Avast results disappoint markets

The price of shares in cybersecurity outfit Avast (LON:AVST) slipped by 6.33% to 562p (as of 14:35 BST) after the firm reported a 16.9% drop in statutory operating profits for the six months ended 30th June. Revenues for the period were up by 1.8% as services were minimally disrupted by COVID, with the group benefiting from the switch to working from home.

Chief executive Ondrej Vlcek commented: “Avast has demonstrated its business resilience during the Covid-19 outbreak. Our overall operational and financial performance has been strong, aided by the work-from-home trend that has driven an increase in online consumer activity and product engagement“.