TechMark movers: Micro Focus crashes as CEO departs

Date: Thursday 23 Feb 2006

Micro Focus tumbled today. Leading the TechMARK fallers after the software house warned on full year results, prompting the departure of chief executive Tony Hill.

Following a third quarter review Micro Focus said it now believes it is unlikely that total revenues will exceed $140m for the year to 30 April 2006, mainly due to continuing sales execution issues.

The shortfall in revenue is expected to have a direct impact at the EBITDA level, it added.

Following the poor performance Tony Hill is stepping down from both his role as chief executive and from the board with immediate effect. Chairman Kevin Loosemore is now acting boss.


FTSE TechMARK - Risers
TTP Communications (TTC) 23.50p +11.90%
Theratase (THE) 49.00p +6.52%
Indigo Vision (IND) 537.50p +5.39%
Vega Group (VEG) 237.50p +4.63%
Biocompatibles International (BII) 210.00p +3.45%
Thus Group (THUS) 15.25p +3.39%
Dialight (DIA) 262.50p +2.44%
Morse Holdings (MOR) 110.00p +2.33%
Antisoma (ASM) 22.75p +2.25%
Vernalis (VER) 78.75p +1.94%

FTSE TechMARK - Fallers
Micro Focus International Plc (MCRO) 76.50p -41.60%
Provalis (PRO) 1.88p -12.79%
Network Technology (NTY) 112.50p -4.26%
Phytopharm (PYM) 43.00p -3.91%
DRS Data (DRS) 37.50p -3.85%
Amstrad (AMT) 200.00p -3.85%
Plasmon (PLM) 105.00p -3.23%
Axis-Shield (ASD) 306.00p -2.24%
Dicom Group (DCM) 248.50p -2.17%
Kingston Communications (KCOM) 66.00p -1.86%

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