Micro Focus has turned losses into profit because of problems associated with the year 2000, it announced yesterday.
The company said that its interim losses of #9.46 million would flip to pre-tax profits of #5.7 million for the first six months of this year.
According to Tony Muller, chief financial officer of Micro Focus, growth in solving Year 2000 problems accounted for 15 per cent currently and would rise to as much as 33 per cent next year.
Last May, Micro Focus bought consultancy Millenium UK for #4 million and is looking to buy further companies.
The announcement caused the shares to rise by 222 pence on the London Stock Exchange, bringing the price to #21.62.
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