18 Jan 2017 07:00
BLANCCO TECHNOLOGY GROUP PLC
("Blancco" the "Company" or the "Group")
TRADING UPDATE AND NOTICE OF RESULTS
Blancco Technology Group Plc (AIM: BLTG, "Blancco"), a leading global provider of mobile device diagnostics and secure data erasure solutions, today issues this trading update for the six months to 31 December 2016, in advance of its half yearly results which will be announced on 14 March 2017.
The Board is pleased to report that trading in the first half of the current financial year was strongly ahead of the same period last year and expects this good trading to continue and the full year results to be modestly ahead of consensus market expectations.
The Group's erasure division saw good organic growth as the business executes its strategy of targeting larger customers while the Group's mobile diagnostics division has been fully integrated and performed strongly, ahead of management's expectations. Both divisions, which have high levels of customer retention, have a strong pipeline of new business opportunities and the Board is confident that the strong performance will continue in the second half and into the next financial year.
Payments related to the disposals of the Regenersis repairs business and later disposal of the related insurance business as well as the costs related to the acquisition of part owned subsidiaries have reduced cash balances since the financial year end, however, excluding these M&A related costs, the underlying Blancco business is cash generative.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014.
Enquiries:
Blancco Technology Group Plc +44 (0) 20 3657 7000
Pat Clawson, Chief Executive Officer
Keith Butcher, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker) +44 (0) 20 7418 8900
Richard Kauffer
Euan Brown
Panmure Gordon (UK) Limited (Joint Broker) +44 (0) 20 7886 2500
Dominic Morley, Corporate Finance
Charles Leigh Pemberton, Corporate Broking
Tulchan Communications +44 (0) 20 7353 4200
Tom Murray
Matt Low
About Blancco
Blancco Technology Group is a leading global provider of mobile device diagnostics and secure data erasure solutions. For more information, please visit www.blanccotechnologygroup.com.