LONDON (Alliance News) - Smartphone software security company Defenx PLC said its results for 2015 were in line with management expectations, with good year-on-year growth in revenue.
Defenx, which was admitted to AIM in December, said it had traded well in the second half of 2015, with its revenue boosted to around EUR4.3 million, up from EUR2.4 million in 2014, representing a year-on-year growth of 80%.
The company said this looked set to continue into 2016, with the launch of new products, as well as its developing relationship with cloud storage provider Memopal. The company said it anticipates launching security products with Memopal, whose shareholders invested EUR1.0 million in December's initial public offering, in coming months.
"I am pleased that, since our successful admission to AIM last December in extremely challenging markets, we continue to grow by bringing our security and protection products to an ever wider audience," Andrea Stecconi, Defenx's chief executive, said.
Defenx, shares of which were untraded on Wednesday, having last traded at 115.10 pence, expects to release its financial results in April.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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