16th Apr 2020 10:34
(Alliance News) - FTSE 250-listed cybersecurity company Avast PLC on Thursday affirmed its full-year guidance following a first quarter which played out in line with expectations.
Avast's adjusted revenue in the period to March 31 was 1.3% higher year-on-year at USD214.6 million from USD211.8 million.
Avast added: "Group revenue performance in the first quarter was in line with expectations. Install, uninstall and retention rates continued to trend positively.
"Due to an increase in working from home, there has been an improvement in Desktop conversion rates and billings through the latter part of the first quarter. Conversely, lower advertising spend by certain sectors has impacted the performance of both Avast Secure Browser and mobile advertising in the Indirect channel."
The company reiterated its intention to make its planned 10.3 cents per share final payout for 2019, as many other London listings have pulled theirs.
"As a leading cybersecurity business, Avast has an important role to play in protecting individuals and communities online at a time of increased reliance on digital communications. With a flexible online sales and distribution model, and a strong balance sheet, the group is well positioned to navigate this period," the company added.
Shares were 12% higher at 451.28 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
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