Blancco Technology Group (BLTG)

Sector:

IT Services

Index:

FTSE AIM All-Share

 129.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 153.50
  • 52 Week Low: 87.50
  • Currency: UK Pounds
  • Shares Issued: 65.20m
  • Volume: 2,900
  • Market Cap: £84.10m

Blancco leaps as profit and revenue expected to exceed expectations

By Duncan Ferris

Date: Wednesday 01 May 2019

LONDON (ShareCast) - (Sharecast News) - Blancco Technology Group's shares stormed higher on Wednesday after the company said it expects full-year revenues and operating profit to be ahead of current market expectations.
The mobile device diagnostics and secure data erasure solutions provider said its revenues have benefitted following the renewal and winning of multiple contracts with international blue-chip clients across EMEA, APAC and the USA, alongside continued investment in the company's mobile offering.

Meanwhile, adjusted operating profits are set to be "comfortably ahead" of market consensus as cost investment initiatives that the AIM traded company has put in place since September are ongoing and are yet to be fully costed within the organisation.

Matt Jones, chief executive of Blancco, said: "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."

Furthermore, Blancco's update added that it has successfully renewed and significantly expanded a three-year contract with a US-based, Fortune 500 software company, with the the deal expected to generate revenues of approximately $1.2m over its duration with the potential for this to increase as the customer continues to scale.

The majority of revenues generated by this contract, which will see Blancco deliver its Drive Erasure solution across data centres around the world, will benefit the group in 2020 and 2021.

Analysts from Peel Hunt upgraded the stock's target price from 126p to 154p and said: "The improving revenue momentum suggests the company is finally getting its go-to-market strategy in order. We are increasingly happy with the product-market fit and are impressed by the evidence of good execution."

Blancco Technology Group's shares were up 18.37% to 145.00p at 1247 BST.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BLTG Market Data

Currency UK Pounds
Share Price 129.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 153.50
52 Week Low 87.50
Volume 2,900
Shares Issued 65.20m
Market Cap £84.10m

BLTG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
32.76% below the market average32.76% below the market average32.76% below the market average32.76% below the market average32.76% below the market average
18.37% above the sector average18.37% above the sector average18.37% above the sector average18.37% above the sector average18.37% above the sector average
Price Trend
48.67% above the market average48.67% above the market average48.67% above the market average48.67% above the market average48.67% above the market average
50.94% above the sector average50.94% above the sector average50.94% above the sector average50.94% above the sector average50.94% above the sector average
Income Not Available
Growth
13.24% below the market average13.24% below the market average13.24% below the market average13.24% below the market average13.24% below the market average
38.61% below the sector average38.61% below the sector average38.61% below the sector average38.61% below the sector average38.61% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BLTG Dividends

  Latest Previous
  Interim Final
Ex-Div 11-May-17 03-Nov-16
Paid 16-Jun-17 07-Dec-16
Amount 0.70p 1.34p

Trades for 18-Nov-2019

Time Volume / Share Price
11:00 2,900 @ 130.00p

BLTG Key Personnel

CEO Matt Jones
CFO Adam Moloney

Top of Page