Micro Focus reiterates flat-or-lower revenue guidance

Micro Focus confirmed full year revenue is still likely to be no better than flat compared to last year's.

In an announcement ahead of its annual shareholder meeting, the FTSE 100 company said revenue could fall as much as 2% on a constant currency basis after trading in the financial year to date remained consistent with previous management guidance.

Shareholders could be in buoyant mood after earlier in the month, Micro Focus agreed an $8.8bn deal to merge with US giant Hewlett Packard Enterprise's software business, with the deal including a $400m return of capital to shareholders.