Micro Focus – what’s not to like?

(By Anthony Miller) Just got back from the Micro Focus interims briefing so barely time to say the numbers look fine – pretty good, in fact, with 11% organic revenue growth (14% for licence sales) and 43% EBITDA margins. Strategy plays dead square to ‘make do and mend’ but in the contemporary idiom of ‘modernise and migrate'. The management team is polished, credible and convincing. What’s not to like? More later.