UK’s Micro Focus reports smaller H1 loss on cost cuts By Reuters

(Reuters) – British software company Micro Focus International (LON:MCRO) reported a smaller loss for the first half on Thursday as it slashed costs, and said it had set aside $70 million to resolve a patent infringement dispute with U.S. firm Wapp.

The company, which helps customers maintain and integrate legacy IT technology, reported a statutory operating loss from continuing operations of $154.8 million, compared with a loss of $906.7 million a year earlier.

($1 = $1.0000)