16th Feb 2021 09:27
(Alliance News) - Blancco Technology Group PLC on Tuesday said it sees strong growth opportunities ahead despite a double-digit profit fall in the first half of its current financial year.
The AIM-listed data security company said revenue for the six months to the end of 2020 remained stable at GBP17.4 million, but pretax profit slipped by 21% to GBP525,000 from GBP668,000 reported a year ago. The fall resulted from an increase in finance costs to GBP242,000 from GBP76,000 year-on-year.
During the half-year, the company said it was focused on continued expansion of its network of blue-chip channel partnerships. In addition, Blancco said it has established a partnership with a new global insurer for a mobile handset insurance program.
Going forward, Blancco said revenue and profit growth is continuing in line with expectations, with pipeline and early third-quarter sales activity leading to confidence over strong growth anticipated in second half of the year.
Blancco shares were trading 2.6% lower in London on Tuesday at 258.00 pence each.
By Evelina Grecenko; [email protected]
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