- International software product group Micro Focus International revised its full-year revenue guidance down by two percentage points due to weak sales execution and as a 'deteriorating macro environment' led to longer decision-making cycles in its customer base.

The company lowered its guidance to a range of minus 6% to minus 8%, from minus 4% to minus 6% previously, for the year ending 31 October 2019.

Despite a 'significant pipeline' of business opportunity being pursued, to be within the current guidance range, the company said 'a highly challenging' percentage of that pipeline would need to close before the year end.

'Following the recent disappointing trading performance, we have determined that it is appropriate to accelerate the undertaking of a strategic review of the group's operations with a view to determining where performance can be improved and how the business can be better positioned to optimise shareholder value,' said CEO Stephen Murdoch.

This review would focus on what in addition to execution improvements were required to optimise the value of its broad portfolio of products and the firm would consider a range of strategic, operational and financial alternatives available to the company.

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