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Avast enjoys strong demand for VPNs and privacy software

The FTSE 250 company said it now expects “upper end of high single digits” growth in 2019

Avast PLC - data protection

Avast PLC (LON:AVST) said it still expects to achieve high single-digit growth in the current calendar year after another quarter of solid sales.

The company, which sells anti-virus software and VPNs, posted revenues up 9% and 7.3% in actual rates to $218.3mln, adjusted to exclude exchange rate fluctuations, discontinued business and the sales of its managed workplace product.

Strong demand for VPNs and its privacy application Anti-Track software in the first half of the year showed billings growing 12.5% to US$454.6mln, with margins inching up to 55.4%.

Avast reiterated guidance from half-year results for the “upper end of high single digits” growth in the full year.

Chief executive Ondrej Vlcek said: “We continue to successfully execute our growth strategy, underpinned by our platform distribution model and our global installed base of more than 435m users."

The shares spiked 7% to 393.6p on Friday morning.

Quick facts: Avast PLC

Price: 436 GBX

LSE:AVST
Market: LSE
Market Cap: £4.29 billion
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