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British software firm Micro Focus has indicated that it expects future growth after bedding in senior management changes that have swept across the business in the last few months.
The vendor revealed in interim results that it had seen 8.7% revenue growth for the six months ended 31 October to $215.6m, but not all areas of its business had seen the arrows pointing upwards.
The results were in line with expectations but the application management and quality side of the business declined by 18.2% to $70.3m and it saw its reliance on the maintenance renewals business, which accounts for 53.9% of Group revenues, continue.
But it added that the recruitment of managers to its senior team was complete ushering in a period of stability after a few months of turbulence at Micro Focus after the CFO Nick Bray left the firm back in the summer, which followed on from last year's departure of the CEO Stephen Kelly, who was replaced by Nigel Clifford in April.
In his CEO statement accompanying the results Clifford acknowledged the challenge that had been created by senior staff changes but he now expected the assembled team to deliver the results.
"The new senior managers join an operating board that has many years of experience within Micro Focus and this newly combined team believes that the Group has established an excellent platform for the future growth of the business," he said.
"In looking at the immediate challenges of the business and the ambition of the Group in the medium term, the management are focused on operational execution and maximising the return from investments in sales, marketing and systems funded through the rebalancing of existing expenditure from other areas. The positive revenue impact from such measures is expected to build through 2011 and into 2012," he added.