REG - Blancco Tech Grp PLC - Trading Update

Blancco TechnologyAnnouncement

09/06/2021 07:05

RNS Number : 2280B
  
Blancco Technology Group PLC
  
09 June 2021
  
 

09 June 2021
 
Blancco Technology Group PLC
 
Trading Update
 
 
Blancco Technology Group PLC (AIM: BLTG, "Blancco", the "Company" or the "Group"), the industry standard in data erasure and mobile device diagnostics, is pleased to provide the following trading update for the year ending 30 June 2021 ("FY2021").
 
Blancco has achieved significant growth in revenue through the second half of the financial year, despite the strengthening value of Sterling, and expects revenues for FY2021 to be in line with the Board's expectations. The Company has continued to benefit from strong structural tailwinds in the Enterprise market and has delivered further good growth in this market. Sales to Enterprise customers through the Group's network of channel partners has driven growth in all key geographies, particularly in North America. 
 
Travel restrictions during the pandemic period, along with other expense reduction measures taken at the outset of the pandemic, have resulted in higher profit margins in the financial year. As a result, adjusted operating profit and cash are now expected to be significantly above the Board's expectations.
 
Matt Jones, Chief Executive Officer of Blancco, commented:
"We have continued to deliver on our strategy with growth accelerating in the second half of the current financial year.  The fact that we have not had to lower our growth expectations during the pandemic demonstrates the strength of Blancco's offering, the momentum of our structural tailwinds such as ESG, and the ongoing hard work of our people."
 
This announcement contains inside information. The person responsible for arranging and authorising the release of this announcement is Adam Moloney, CFO of Blancco.
 
For further information:



Blancco Technology Group plc
Matt Jones, Chief Executive Officer
Adam Moloney, Chief Financial Officer
 


via Buchanan




Peel Hunt (Nominated Advisor & Joint Broker)                                        
Edward Knight / Paul Gillam / Nick Prowting
 


+44 (0) 20 7418 8900




Investec Bank plc (Joint Broker)
Patrick Robb / Sara Hale / Cameron MacRtichie                
 


+44 (0) 20 7597 5970




Buchanan Communications Limited
Chris Lane / Stephanie Watson / Charlotte Slater
blancco@buchanan.uk.com
 


+44 (0) 20 7466 5000



 
About Blancco
Blancco Technology Group plc is a leading global provider of mobile device diagnostics and secure data erasure solutions.  For more information, please visit www.blanccotechnologygroup.com.

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