20th Sep 2016 09:35
LONDON (Alliance News) - Blancco Technology Group PLC on Tuesday said its pretax loss narrowed in the financial year to the end of June, following a restructuring of the business and a name change as the mobile device diagnostics and data erasure company focused its attention on its software operations.
Blancco, formerly called Regenersis, changed its name after becoming a pure-play technology company by selling off its repair services unit.
For the year to June 30, the company made a pretax loss of GBP1.3 million, compared to a GBP2.4 million loss a year prior. The narrowed loss was driven by significantly lower acquisition costs and higher revenue, though partially offset by a writedown booked on the purchase of mobile diagnostics firm Xcaliber Technologies.
The company declared a final dividend of 1.34 pence per share, down from 3.35p a year before after Blancco rebased its dividend for the ongoing software operations. Its total payout for the year was 2.0p, down from 5.0p.
Revenue increased to GBP22.4 million from GBP15.0 million the year before, helped by the acquisitions of Xcaliber and of Tabernus, the date erasure firm it bought in 2015 and which helped US sales more than double. Live environment erasure sales nearly tripled year-on-year, while mobile and IT sales were also higher. Average revenue per client rose 17%.
"Blancco has delivered another strong year of growth against a backdrop of transformation at the group level, with the disposal of the Repair Services business. We have continued to invest in our products and our team, both organically and by acquisition, and have developed a clear strategic plan to achieve a step change in our penetration of the very large market for data erasure," said Chairman Matthew Peacock.
Shares in Blancco were up 1.7% at 228.81p on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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