PortSwigger pays £8M dividend after successful year

Cheshire-based security software provider, PortSwigger, has announced a £8 million dividend payout following a strong financial performance.

The company, which has a global client base including major corporations like Barclays and Amazon, saw its turnover increase by 21% to £35.9 million in the year ending 31 December 2023. Despite a slight drop in post-tax profit from £10.3 million to £10.2 million, Portswigger’s financial health remains robust.

PortSwigger attributed the decrease in profit margin to continued investment in the growth of its staff and in the areas of both technology and culture.

Portswigger’s dividend payment of £8 million, while lower than the previous year’s £14.2 million, reflects the company’s strong cash position. The decrease in dividend payouts is primarily due to investments in the phase two fit-out of new office space.