Avast shares rise on back of strong performance

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Avast shares rise on back of strong performance
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Master Investor Magazine 53

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Shares in Avast (LON:AVST) rose by 9% after the cybersecurity provider announced its interim results.

For the six months ended 30th June 2019, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 6.5% to $236.5 million on adjusted like-for-like revenues of $421.7 million, up by 9.2% on the same period a year earlier. Revenue growth was driven by double digit growth in its consumer direct desktop business. Interim dividend of 4.4 cents per share was announced.

The company added that it now expects “like-for-like FY2019 revenue growth to be at the upper end of the previously stated high single-digit percentage range.”

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