15th Jul 2014 10:15
LONDON (Alliance News) - Regenersis PLC said Tuesday it will meet market expectations for the full year to end-June, and said it expects to see further double digit growth in the next financial year and beyond.
The outsourcing company said it had seen double-digit sales and profit growth and an improving operating margin during the year, particularly from its Advanced Solutions division.
Its acquisition Blancco Ltd has performed ahead of management expectations, Regenersis said, and is expected to show significant growth in the the financial year to end-June 2015. Blancco won a partnership with Kroll Ontrack Legal Technologies, which it said had started well and is already delivering new business.
Regenersis highlighted the changes to the European Union's data protection regulation stipulating "the right to be forgotten" and the implications this has for data controllers. Blancco's service offering addresses this need, Regenersis said, and it is in discussions with customers to adopt its products.
Its investment Xcaliber Technologies LLC won its first significant mobile diagnostics revenues and launched three live pilots with a US mobile operator, a European mobile operator and a US repair company. As a result Regenersis has agreed to to increase its stake in Xcaliber to 49% for USD3.5 million.
The company said it is considering further merger and acquisition deals to expand its technology suite and extend its global footprint.
Shares in Regenersis were trading up 5.0% at 325.18 pence Tuesday morning.
Regenersis will announce its full year results September 23.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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