Trading Update
03/07/2023 07:00
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RNS Number : 6396E Blancco Technology Group PLC 03 July 2023
3 July 2023
Blancco Technology Group PLC
Trading Update
Full Year Results expected to be above market expectations with broad-based
growth across all geographies
Blancco Technology Group (AIM: BLTG), the industry standard in data erasure
and mobile lifecycle solutions, announces the following trading update for the
year ended 30 June 2023 ("FY2023").
The strong performance delivered in the first six months has continued, with
Blancco benefitting from the enduring growth drivers of sustainability and
governance. FY2023 revenue is now expected to be above market expectations
and, due to the positive impact of operational gearing, operating profit is
expected to be comfortably higher than current forecasts.
Growth has been broad-based across all the Group's geographies with Enterprise
and ITAD stronger than anticipated, with Enterprise growth driven by the
ongoing successful implementation of the Group's channel strategy. The
financial performance in FY2023 was supported by a high level of repeat
revenues, alongside the conversion of various new business opportunities.
Matt Jones, Chief Executive Officer of Blancco, commented:
"Demand for Blancco's best-in-class products and services is strong with the
tailwinds of governance and sustainability giving us confidence in continued
growth in the years ahead. With various legislation on data security and now
increasingly on sustainability emerging, Blancco is well placed for continued
growth as a beneficiary of these structural market drivers."
For further information:
Blancco Technology Group plc via Buchanan
Matt Jones, Chief Executive Officer
Adam Moloney, Chief Financial Officer
Investec Bank plc (Nominated Advisor & Joint +44 (0) 20 7597 5970
Broker)
Patrick Robb / Edward Knight / Virginia Bull / Nick Prowting
Stifel Nicolaus Europe Limited (Joint Broker) +44 (0) 20 7710 7600
Nick Adams / Alex Price / Richard Short / Ben Burnett
Buchanan Communications Limited +44 (0) 20 7466 5000
Chris Lane / Stephanie Whitmore / Jack Devoy
blancco@buchanan.uk.com (mailto:blancco@buchanan.uk.com)
This Announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. The person responsible for arranging
for the release of this Announcement on behalf of the Company is Adam Moloney,
Chief Financial Officer.
About Blancco
Blancco Technology Group plc is a leading global provider of mobile lifecycle
solutions and secure data erasure solutions. For more information, please
visit www.blanccotechnologygroup.com (https://www.blancco.com/) .
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