TIDMBLTG

RNS Number : 7257Y

Blancco Technology Group PLC

18 January 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

18 January 2022

Blancco Technology Group PLC

Trading Update

Full Year Results expected to be above expectations, driven primarily by increasing industry tailwinds of sustainability and governance

Blancco Technology Group PLC (AIM: BLTG, "Blancco", the "Company" or the "Group"), the industry standard in data erasure and mobile lifecycle solutions, is pleased to provide the following trading update for the six months ended 31 December 2021 ("H1 FY22").

Following on from the significant growth experienced in the second half of the previous financial year, Blancco has continued to benefit from the growth drivers of sustainability and governance. Accordingly, Blancco has achieved strong growth in revenue in H1 FY22, above the board's expectations, despite the strengthening value of Sterling. IT Asset Disposition ('ITAD') has seen particularly pleasing revenue growth as a result of pent up demand unwinding as businesses return to offices where there is redundant equipment, combined with a longer term trend of companies seeking more sustainable solutions to the management of IT equipment as ESG considerations become increasingly important for everyone.

Blancco has converted a number of new business opportunities during H1 FY22 and continues to benefit from a strong pipeline, which has further strengthened during the period. Revenue and pipeline generated with channel partners has also increased significantly in the period.

The operational gearing inherent within the business, combined with continued cost savings, have resulted in anticipated operating margins for H1 FY22 increasing significantly. As a result, adjusted operating profit, adjusted EBITDA and cash are all expected to be comfortably above the board's expectations.

Matt Jones, Chief Executive Officer of Blancco, commented:

"We are delighted to be able to report growth in revenue, profit and cash above expectations, demonstrating that the quality of Blancco's solutions, which combined with significant structural growth, are leading to visible and growing value creation for our shareholders. The tailwinds of sustainability and governance continue to drive positive behaviours among our customers which we fully expect to create long-term demand for our market leading solutions."

Unaudited interim results for the six months ended 31 December 2021 will be announced on Tuesday 22 February 2022. A briefing for analysts will be held at 3.00pm GMT on the day of results via conference call. Please contact Buchanan at blancco@buchanan.uk.com to register.

For further information:

 
 Blancco Technology Group plc              via Buchanan 
  Matt Jones, Chief Executive Officer 
  Adam Moloney, Chief Financial Officer 
 
 Peel Hunt (Nominated Advisor & Joint 
  Broker)                                  +44 (0) 20 7418 8900 
 Edward Knight / Paul Gillam / James 
  Smith 
 
 Investec Bank plc (Joint Broker)          +44 (0) 20 7597 5970 
 Patrick Robb / Sarah Hale / Cameron 
  MacRitchie 
 
 Buchanan Communications Limited           +44 (0) 20 7466 5000 
 Chris Lane / Stephanie Whitmore / Jack 
  Devoy 
  blancco@buchanan.uk.com

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 Lorraine Young, Company Secretary.

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.blancco.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTQDLFFLFLEBBE

(END) Dow Jones Newswires

January 18, 2022 02:00 ET (07:00 GMT)

Blancco Technology (LSE:BLTG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Blancco Technology Charts.
Blancco Technology (LSE:BLTG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Blancco Technology Charts.