Blancco Technology achieves 'significant' H2 revenue growth

Data erasure firm Blancco Technology said on Wednesday that it has achieved "significant growth" in revenue through the second half of the trading year.

Blancco stated it now expects full-year revenues to be in line with the expectations, with the company continuing to benefit from "strong structural tailwinds in the enterprise market”, with sales to enterprise customers through the group's network of channel partners driving growth in all key geographies, particularly in North America.

The AIM-listed group also highlighted that travel restrictions put into place as a result of Covid-19, along with other expense reduction measures taken at the outset of the pandemic, had resulted in higher profit margins throughout the financial year, with adjusted operating profits and cash both now expected to be "significantly above" expectations.

Chief executive Matt Jones said: "We have continued to deliver on our strategy with growth accelerating in the second half of the current financial year.

"The fact that we have not had to lower our growth expectations during the pandemic demonstrates the strength of Blancco's offering, the momentum of our structural tailwinds such as ESG, and the ongoing hard work of our people."

As of 1050 BST, Blancco shares were up 3.70% at 280.0p.