Results 

Micro Focus swings to $1bn loss on impairment charge

Micro Focus swings to $1bn loss on impairment charge

Micro Focus (MCRO) was hit by an impairment charge of $922m (£739m), pushing the software company to a hefty pre-tax loss in the first half. Management said that the charge was attributable to heightened economic uncertainty due to coronavirus, which led to an increase in the pre-tax discount rate as well as disruption to sales activity and renewals. 

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now