Scrutiny of yesterday’s half year results shows Newbury-based Cobol language specialist Micro Focus Plc well on target to meet its three major 1988 objectives. Sales were up 43.0% at UKP10.0m, while cash collections of UKP10.4m, resulting in a positive cash flow of UKP700,000, finally served to eliminate the company’s net bank borrowings, which stood at […]
Scrutiny of yesterday’s half year results shows Newbury-based Cobol language specialist Micro Focus Plc well on target to meet its three major 1988 objectives. Sales were up 43.0% at UKP10.0m, while cash collections of UKP10.4m, resulting in a positive cash flow of UKP700,000, finally served to eliminate the company’s net bank borrowings, which stood at UKP2.1m in July last year. Pre-tax profits for the six months were up a massive 331% at UKP992,000, although profitability was down slightly, in percentage terms, from last year’s overall figure of 9.7% to 9.2%. Managing director Colin West blamed the slight drop on the inability of company’s existing production methods to meet the growing volume of product shipments – a situation that, he declared, could and would be rectified by using more sub-contractors and changes in documentation.
