Sophos continues to grow at twice the market rate

September 15, 2003 Sophos Press Release

Sophos, a world leader in anti-virus protection for businesses, today announced financial results for the year ended 31 March 2003.

Global highlights:

  • Turnover increased 30% to £41.0 million, up from £31.6 million in the previous year.
  • Profit before tax grew 24% to £12.1 million (2002: £9.8 million).
  • Profit after tax grew 59% to £10.1 million (2002: £6.3 million).

Analyst group IDC expects the anti-virus market as a whole to grow at 15% annually between 2002 and 2007*. This year, Sophos's turnover grew at twice this rate - 30% - demonstrating the company's continued success in capturing market share in the highly competitive anti-virus market.

The company has now enjoyed several consecutive years of impressive and steady growth. Since 1994, Sophos has experienced compound annual turnover growth of 42% and compound pre-tax profits growth of 44%.

"Sophos has achieved consistent growth over the last year and for the third consecutive year we have outperformed the anti-virus market as a whole," said Peter Lammer, joint-CEO for Sophos Plc. "Our strategy of developing protection specifically designed for networked corporate environments, backed up with round-the-clock support, is clearly working."

Sophos has continued to experience strong employee growth, with the current total headcount nearing 550 employees. The UK headcount alone has increased 34% since April 2001 and is set to continue as Sophos's new £32 million global headquarters is scheduled to open alongside its existing Oxfordshire offices in October 2003.

The company also expanded its worldwide reach with certification for use in mainland China and will be releasing versions of its award-winning products in Brazilian Portuguese and Korean as well as traditional and simplified Chinese.

Sophos also increased its number of OEM partnerships. Among these new partners are Ositis, Stalker, Telnet Media and Preventon.

A short selection of Sophos's UK customers includes: Bank of England, BBC, GlaxoSmithKline, Interbrew, Marks & Spencer, Orange, Oxford University, Royal Air Force, Sainsbury's, Siemens, Toshiba, WWF and Xerox Corporation.

*IDC Bulletin 29635R - Worldwide Secure Content Management Forecast Update and Competitive Vendor Shares, 2002-2007