(Alliance News) - Mobile diagnostics and data erasure firm Blancco Technology Group PLC on Tuesday said it is performing in line with expectations in its second half of trading, following a double-digit interim revenue rise.
In the six months to December 31, revenue rose by 19% to GBP17.4 million from GBP14.6 million a year prior. Blancco more than doubled interim pretax profit to GBP700,000 from GBP300,000.
Chief Executive Matt Jones said: "Blancco continues to benefit from the strong tailwinds driven by regulation governing the ownership and retention of data and from the increasing awareness of the importance of environmental considerations in terms of enterprises recycling ageing technology."
Blancco added that legislation similar to the European Union's General Data Protection Regulation, or GDPR, "are being replicated in many other parts of the world".
In January, the California Consumer Privacy Act was enacted in the US.
"The potential penalties accompanying data loss can be very significant but the brand damage for organisations who suffer such a loss can be similarly impactful," Blancco explained.
The firm added: "Blancco has unrivalled experience and security accreditations that give customers the peace of mind that data erased using Blancco software cannot ever be recovered."
The data protection-focused Enterprise division posted 28% year-on-year revenue surge to GBP6.0 million in the first-half.
The mobile servicing unit had 15% growth to GBP5.8 million.
In Blancco's IT Asset Disposition segment, revenue came in 15% higher at GBP5.6 million. The unit is charged with disposing equipment in an environmentally safe manner.
"The second half of the financial year has started with good momentum and in line with expectations. The board is confident that Blancco is well placed to deliver sustained levels of revenue growth going forwards," CEO Jones said.
Blancco shares were 9.3% higher at 206.00 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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