August 22, 2018 / 6:24 AM / 3 months ago

Newly listed Avast reports strong first half, sees margin improvement

LONDON, Aug 22 (Reuters) - 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 percent rise in first-half earnings.

The company reported adjusted revenue of $403.3 million for the six months to end June, up 4.1 percent excluding currency, and adjusted core earnings of $222.1 million, up 10.6 percent, with a margin of 55.1 percent, 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. (Reporting by Paul Sandle; editing by Kate Holton)

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