Avast profit jumps amid growth in consumer desktop business

Wed, 26th Feb 2020

Cybersecurity company Avast reported a jump in profit driven by growth in its consumer desktop business. For the year ended 31 December 2019, pre-tax profit rose to £314.6m from £182.5m on-year as revenue rose 7.8% to $871.1m. Consumer direct desktop adjusted revenue rose 9.1% to $632.9m, with customer retention rates rising to 67%, driven by lower churn in paid anti-virus and CCleaner products, and APPC growth, the company said. The company proposed a final dividend of 10.3 cents per share, taking the total dividend for the year to 14.7 cents per share, up 8.1% on-year. Looking to 2020, Avast said it expected to deliver mid-single digit revenue growth with organic billings growth broadly in line with organic revenue growth, albeit slightly weighted towards the second half. Story provided by StockMarketWire.com

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