Smarttech247 Group PLC - Cork, Ireland-based artificial intelligence-enhanced cybersecurity services provider - Revenue in half-year that ended January 31 is EUR4.6 million, up 19% from EUR3.9 million a year before. Swings to a pretax loss of EUR449,428 from profit of EUR434,534. This is due to EUR1.1 million in costs associated with Smarttech247's initial public offering on AIM in London back in December. Adjusted earnings before interest, tax, depreciation and amortisation increase by 60% to EUR1.2 million from EUR720,000.
"Smarttech247 is already seeing the benefits from its [stock market] admission with continued revenue and Ebitda growth, and we are now well funded to support our expansion strategy," says Chief Executive Officer Raluca Saceanu. "We are actively progressing with the delivery of our new products and traction with international customers is continuing to develop as evidenced by our growing sales pipeline."
RiverFort Global Opportunities PLC, a 6.2% shareholder, notes the maiden results. Smarttech247 also is backed by Conduity Capital PLC and Pires Investments PLC.
Current stock price: 36.66 pence, up 24% from 29.66p IPO price
By Tom Waite, Alliance News editor
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