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Avast's confident update sends cybersecurity firm to top of FTSE

·1 min read
The logo of Avast Software company is seen at its headquarters in Prague

LONDON (Reuters) - Cybersecurity firm Avast said it had made a good start to the year, with organic revenue rising 10.4% in the first quarter, and forecast revenue growth at the top end of its 6-8% range, sending its shares to the top of the FTSE on Tuesday.

Chief Executive Ondrej Vlcek said there was continued demand for the London-listed company's security, privacy and performance products, and he looked forward to the rest of the year with confidence.

Analysts at UBS said the continuing strong top line momentum, increase in the guidance and especially the strong cash flow should be well-received by the market.

(Reporting by Paul Sandle; editing by Michael Holden)