StockMarketWire.com - Cybersecurity company Avast reported lower annual profit as higher costs offset a rise in revenue.

For the year ended 31 December 2020, pre-tax fell to $236.3 million from $314.6 million year-on-year, while revenue was up from $871.1 million to $892.9 million.

Adjusted revenue was $892.9 million, with organic growth of 7.9%, driven by growth in its consumer direct desktop business, the company said.

Adjusted billings were up 1.2% to $922.0 million.

A final dividend of 11.2 US cents per share was proposed, taking the total dividend for the year to 16.0 US cents per share, up 8.8%.

Looking ahead, the company expected to deliver 2021 organic revenue growth in the range of 6% to 8%.

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