Blancco Technology Group revenue falls short of guidance amid stronger pound
StockMarketWire.com - Mobile device diagnostics group Blancco Technology said Wednesday revenue fell short of expectations weighed down by a strong pound as the company focused on addressing 'legacy issues'.
The company said good progress had made on addressing legacy issues as operational teams had been reorganised and refocused. The company also said it had appointed Adam Moloney as Chief Financial Officer.
Moloney was Chief Financial Officer of AIM quoted Eckoh, a leading provider of customer service and secure payment technology solutions for contact centres until 2017.
'Revenue for the financial year was 'modestly' ahead of the same period last year, but not as positive as anticipated and was impacted by the strengthening of Sterling,' Blancco Technology said.
New client contracts won during the second half more than offset impact of the prior year's non-repeating deals, producing 7% second half revenue growth in constant currency.
Adjusted Operating Profit (AOP) and AOP margin percentage were higher than full year expectations at roughly 11% AOP margin.
At 9:18am: (LON:BLTG) Blancco Technology Group Plc share price was +2p at 76p
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