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Shares in digital security specialist Sophos (LON:SOPH) dropped by 22.81% to 290.68p (as of 11:45 GMT) after it said that performance remained subdued during the three months ended 31st December. Revenues for the period rose by 14%, but these were driven by a rise in renewals and masked a decline in new customer billings and hardware sales.
Chief executive Kris Hagerman commented: “Sophos remains strongly positioned from a technology, product, and strategic perspective. We are confident in our strengthening product platform and how it positions us for the future”.