StockMarketWire.com - Software supplier Micro Focus International said it expected its annual revenue to be at the better end of its most recent annual guidance range, while also announcing that chief financial officer Chris Kennedy was leaving the company.

Trading continued to track in line with expectations, with an improved revenue trajectory in the second half.

Consequently, revenue in constant currency terms for the year through October was expected at the better end of a guidance range for a fall of between 6% and 9%, the company said.

Trading had also been consistent with the company's adjusted Ebitda margin guidance of around 37% at the midpoint of that revenue range.

Micro Focus said Kennedy would leave in the first quarter of 2019 to join broadcaster ITV.

He would be replaced by Brian McArthur-Muscroft, was most recently CFO of Paysafe Group and had also held the CFO role at TeleCity Group.

Micro Focus also announced that it planned to recommence its buy-back programme.

In the period 29 August to 24 October the company bought share worth around $171m.

The extended programme, when initiated, would cover an additional tranche of shares to a combined total value of up to $400m, inclusive of those already repurchased.



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