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."