Blancco Technology Group PLC Trading Update and Contract Expansion (6579X)
May 01 2019 - 1:01AM
UK Regulatory
TIDMBLTG
RNS Number : 6579X
Blancco Technology Group PLC
01 May 2019
1 May 2019
Blancco Technology Group PLC
("Blancco" or the "Group")
Trading Update
Contract Expansion with Fortune 500 Company
Blancco Technology Group (AIM: BLTG), a leading global provider
of mobile device diagnostics and secure data erasure solutions, is
pleased to provide the following trading update for the year ending
30 June 2019 ("FY2019").
Blancco has continued to develop relationships with Channel
partners in order to exploit the high-growth Data Centre and
Enterprise market opportunity, renewing and winning multiple
contracts with international blue-chip clients across EMEA, APAC
and the USA. The Group continues to invest in its mobile offering
and is cementing its position as a leader in the diagnostics space.
As a result, Blancco expects revenues for FY2019 to be marginally
ahead of current market expectations. The cost investment
initiatives that Blancco has put in place since September 2018 are
ongoing and are yet to be fully costed within the organisation and,
accordingly, the Group expects adjusted operating profit for FY2019
to be comfortably ahead of the current market consensus.
Blancco is also pleased to announce that it has successfully
renewed and significantly expanded a three-year contract with a
US-based, Fortune 500 software company. The contract will see the
Group deliver its Drive Erasure solution across data centres around
the world, generating revenues of approximately US$1.2 million over
the duration of the contract with the potential for this to
increase as the customer continues to scale. The majority of
revenues generated by this contract will benefit the Group in
FY2020 and FY2021.
Matt Jones, Chief Executive Officer of Blancco, commented;
"We are delighted to see Blancco's strong operational progress
driving profitable growth for the Group and that our strategy of
focusing on the three core markets of Mobile, Data Centre /
Enterprise and ITAD is delivering new contracts across the
business, providing the Group with enhanced earnings visibility.
The impressive performance from our team and our continued
expansion of relationships with blue-chip Channel partners
continues to support our confidence in the Group's ability to
deliver long term sustainable growth. We look forward to hosting
our Capital Markets event in London on 3 June."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the
publication of this announcement, this inside information is now
considered to be in the public domain.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of Blancco by Lorraine Young Company Secretaries Limited,
Company Secretary of Blancco.
For further information:
Blancco Technology Group Plc via Buchanan
Matt Jones, Chief Executive Officer
Adam Moloney, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser
and Broker)
Edward Knight
Peter Stewart
Nick Prowting +44 (0) 20 7418 8900
Panmure Gordon (UK) Limited (Joint
Broker)
Dominic Morley, Corporate Finance
Charles Leigh Pemberton, Corporate
Broking +44 (0) 20 7886 2500
Buchanan +44 (0) 20 7466 5000
Henry Harrison-Topham blancco@buchanan.uk.com
Chris Lane
Stephanie Watson
Catriona Flint
About Blancco
Blancco Technology Group plc is a leading global provider of
mobile device diagnostics and secure data erasure solutions. For
more information, please visit www.blanccotechnologygroup.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
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contact rns@lseg.com or visit www.rns.com.
END
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