TOP NEWS: Avast lifts guidance after first-quarter revenue growth

(Alliance News) - Avast PLC on Tuesday said 2021 sales growth will be at the upper end of ...

Alliance News 20 April, 2021 | 8:57AM
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(Alliance News) - Avast PLC on Tuesday said 2021 sales growth will be at the upper end of guidance after a solid start to the year.

Shares were up 3.3% to 486.70 pence in London, making the cybersecurity provider the top performer in the FTSE 100.

First-quarter revenue was up 11% year-on-year to USD237.1 million from USD214.6 million, while adjusted earnings before interest, tax, depreciation and amortisation rose 10% to USD133.7 million. The Consumer Direct business delivered good growth, while the small- and medium-sized businesses unit sustained positive momentum, Avast said in a trading update.

The Prague-based company now expects full-year revenue growth at the upper end of the guided range of 6% to 8%, as a result of the sale of the Family Safety mobile business on Friday last week.

Avast also confirmed a payment of a final dividend of 11.2 US cents per share, bringing the total dividend for 2020 to 16 cents per share. That's up 8.8% from the previous year's dividend of 14.7 cents per share.

"The business is trading in line with expectations as we successfully execute on our stated goals to drive customer engagement and monetisation. We look forward to the remainder of the year with confidence," Chief Executive Ondrej Vlcek said.

By Ivan Edwards;

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Avast PLC 489.50 GBX -0.69 -

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