26th Feb 2020 09:13
(Alliance News) - Avast PLC on Wednesday said its full-year performance was in line with expectations, with the cybersecurity firm registering double-digit profit growth.
In 2019, revenue climbed 7.8% to USD871.1 million from USD808.3 million, with adjusted billings rising 5.7% to USD911.0 million from USD862.1 million.
Pretax profit grew 18% to USD400.1 million from USD339.3 million
Chief Executive Ondrej Vlcek said: "I'm pleased to report another year of good performance for Avast in 2019, with results in line with the board's expectations."
Avast upped its full-year dividend by 8.1% to 14.7 cents per share.
Its number of customers also rose, by 3.5%, to 12.6 million from 12.2 million. Average revenue per customer was 3.6% higher at USD51.02 from USD49.24.
Earnings before interest, tax, depreciation and amortisation margin improved t0 55.3% from 54.1%.
"For the full year 2020 we expect group mid-single digit organic revenue growth, and a stable Ebitda margin percentage," Vlcek added.
Weighing on earnings in 2020 will be a charge, in the range of USD15 million to USD25 million, related to the closure of Jumpshot, a unit which is mired in allegations of selling personal data.
Avast in late January said: "Avast has terminated the provision of data to its data analytics business Jumpshot with immediate effect. Jumpshot may not use any existing data provided by Avast and no further data will be provided by Avast.
"The decision to terminate the provision of data to Jumpshot has been made in the best long-term interest of the group and its shareholders. Users put their faith in Avast to keep their data safe online and to give them control over their privacy."
Shares in Avast were 0.9% higher at 416.60 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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