Newly listed Avast reports strong first half, sees margin improvement

Avast Software company logo at its headquarters in Prague, Czech Republic, April 2018. (Reuters pic)

LONDON: Avast, the cyber security firm that listed in May, said it would see a slight improvement in margin for the full year after reporting a 10.6% rise in first-half earnings.

The company reported adjusted revenue of US$403.3 million for the six months to end June, up 4.1% excluding currency, and adjusted core earnings of US$222.1 million, up 10.6%, with a margin of 55.1%, putting it firmly on track to meet full-year consensus.

“We are on track to deliver on full-year guidance of high single digit revenue growth, with slight Ebitda margin improvement,” Chief Executive Vincent Steckler said on Wednesday.