3 Jul 2023 07:00
3 July 2023
Blancco Technology Group PLC
Trading Update
Full Year Results expected to be above market expectations with broad-based growth across all geographies
Blancco Technology Group (AIM: BLTG), the industry standard in data erasure and mobile lifecycle solutions, announces the following trading update for the year ended 30 June 2023 ("FY2023").
The strong performance delivered in the first six months has continued, with Blancco benefitting from the enduring growth drivers of sustainability and governance. FY2023 revenue is now expected to be above market expectations and, due to the positive impact of operational gearing, operating profit is expected to be comfortably higher than current forecasts.
Growth has been broad-based across all the Group's geographies with Enterprise and ITAD stronger than anticipated, with Enterprise growth driven by the ongoing successful implementation of the Group's channel strategy. The financial performance in FY2023 was supported by a high level of repeat revenues, alongside the conversion of various new business opportunities.
Matt Jones, Chief Executive Officer of Blancco, commented:
"Demand for Blancco's best-in-class products and services is strong with the tailwinds of governance and sustainability giving us confidence in continued growth in the years ahead. With various legislation on data security and now increasingly on sustainability emerging, Blancco is well placed for continued growth as a beneficiary of these structural market drivers."
For further information:
Blancco Technology Group plc Matt Jones, Chief Executive Officer Adam Moloney, Chief Financial Officer
| via Buchanan |
Investec Bank plc (Nominated Advisor & Joint Broker) Patrick Robb / Edward Knight / Virginia Bull / Nick Prowting
| +44 (0) 20 7597 5970 |
Stifel Nicolaus Europe Limited (Joint Broker) Nick Adams / Alex Price / Richard Short / Ben Burnett
| +44 (0) 20 7710 7600 |
Buchanan Communications Limited Chris Lane / Stephanie Whitmore / Jack Devoy blancco@buchanan.uk.com
| +44 (0) 20 7466 5000 |
This Announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. The person responsible for arranging for the release of this Announcement on behalf of the Company is Adam Moloney, Chief Financial Officer.
About Blancco
Blancco Technology Group plc is a leading global provider of mobile lifecycle solutions and secure data erasure solutions. For more information, please visit www.blanccotechnologygroup.com.