Sophos upgrades profit forecasts after strong Q4

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FTSE 250 cyber security group Sophos upgraded its full-year profit forecasts on Tuesday after a “very strong end” to its financial year.

In a trading update ahead of its full-year results, the Oxfordshire-based company said it expects to report revenue growth for the year to March 31 of 18 per cent – or 20 per cent on a constant currency basis – to $630m.

Analysts had expected revenues of between $610 and $617m. The company said cash earnings before interest, tax, depreciation and amortisation would also be “ahead of the consensus range”.

The predicted revenue growth excludes any further benefit from Sophos’ purchase of US-based group Invincea.

Shares in the company hit an all-time high shortly after the announcement in February, which Sophos said would provide a “significant growth opportunity”.

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