British cyber safety group Sophos mentioned it anticipated invoiced gross sales to gradual to the “mid-teens per cent” this yr after a robust yr marked by excessive demand for its companies following a collection of high-profile cyberattacks.
The Oxfordshire-based firm has confronted intensifying competitors with rival safety software program suppliers after the WannaCry and NotPetya cyberattacks hit companies all over the world.
In full yr outcomes the corporate mentioned billings, which signify the overall worth of merchandise invoiced to clients, had elevated 21.6 per cent to $768.6m within the yr to the tip of March because it issued the steering for this yr.
“The 2018 monetary yr was a robust yr for Sophos,” mentioned Kris Hagerman, chief government. “Cybersecurity has by no means been extra vital for enterprises of all sizes.”
Reported revenues rose 21 per cent to $641m, forward of analyst expectations. Losses earlier than tax widened 6.1 per cent to $52.3m after stings from shifts in currencies.
Safety software program suppliers all over the world have been rewarded by traders over the previous yr as issues have grown about cyberattacks towards companies.
In an unprecedented transfer final month the US and UK issued a joint warning that Russia was was intentionally concentrating on vital western internet-based infrastructure with cyber intrusions that threatened dwelling and enterprise routers.
Subsequent week new EU rules will come into impact that may positive companies as much as four per cent of their turnover or €20m if their information is hacked.
Sophos, which launched the most important preliminary public providing for a UK software program firm on the London Inventory Alternate in 2015, offers pc safety companies to greater than 300,000 mid-market companies in 150 nations. It additionally offers cyber safety companies to a variety of UK public sector firms from colleges to hospitals.
A lot of the corporate’s development this yr got here from its cloud-based Sophos Central platform that enables firms to handle cybersecurity threats. A more moderen product known as Intercept X, which makes use of synthetic intelligence to identify malicious programmes, additionally proved standard.