24th Sep 2019 12:10
(Alliance News) - Blancco Technology Group PLC on Tuesday said its loss narrowed in its most recent financial year, aided by higher revenue from its Data Centre / Enterprise and IT Asset Disposition businesses.
The mobile device diagnostics and secure data erasure company posted a GBP375,000 pretax loss for its financial year ended June 30, close to half the GBP743,000 loss the year before.
Revenue rose 13% to GBP30.5 million from GBP26.9 million, including a 20% rise in revenue from its Data Centre / Enterprise business to GBP10.3 million from GBP8.6 million, including a 47% rise in channel sales to GBP5.3 million from GBP3.6 million.
IT Asset Disposition revenue growth was also strong, up 19% to GBP10.2 million from GBP8.6 million.
Growth in Mobile business revenue was more modest but still present, up 3.1% at GBP10.0 million from GBP9.7 million.
Blancco expects revenue and profit to grow, helped by crackdowns on GDPR data breaches, which it expects will push companies to buy its products for data protection.
Chief Executive Matt Jones said: "These results are testament to the hard work and progress delivered by Blancco over the last financial year. We have continued to strengthen our management team and implemented a strategy to focus on our three key markets of Data Centre / Enterprise, Mobile and ITAD. We have already seen that this strategic focus has generated good revenue growth in the year which has also seen strong conversion into profit despite the costs of making investments in the business which will underpin continued growth.
"In the coming periods we anticipate that regulatory and environmental factors will drive further growth in the Data Centre / Enterprise market. The investments made in the Mobile offering over the past year, and particularly the recent acquisition of Inhance and Consulting Agreement with ZroBlack, will position Blancco to be a clear leader in the provision of a full-suite of diagnostic and erasure solutions for the fast-growing market for used mobile devices.
"We therefore look forward with great confidence to another year of further growth of the business."
Shares in Blancco were up 0.4% at 125.00 pence in London on Tuesday.
By Anna Farley; [email protected]
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