19th Apr 2016 08:44
LONDON (Alliance News) - Mobile security software company Defenx PLC on Tuesday said its pretax profit dipped in 2015 due to costs related to its listing in London, but revenue grew substantially.
Defenx said its pretax profit for the year to the end of December was EUR362,257, compared to EUR760,991 a year earlier. The fall in profit was driven by exceptional costs of EUR614,192 related to the company's initial public offering on AIM in December.
Operating profit before one-offs grew to EUR979,199 from EUR804,517.
Revenue swelled by 88% year-on-year, up to EUR4.5 million from EUR2.4 million. Defenx launched a series of new security suites over the course of the year and won two new major channel partners.
"2015 has been a year of good progress for Defenx, and we have continued to grow the business financially and are delighted to report that we finished the year slightly ahead of market expectations," said Chief Executive Andrea Stecconi.
"We have had a strong start to 2016, launching Windows Phone 10 and Defenx Cloud Backup products," he added.
Defenx shares were up 3.8% to 123.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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