12th Sep 2022 08:52
(Alliance News) - Kape Technologies PLC on Monday posted a vastly higher profit and revenue, citing high demand for privacy and security products.
Pretax profit in the half-year to June 30 surged to USD46.2 million from GBP10.0 million a year prior. Revenue more than tripled to USD302.4 million from USD95.5 million.
The digital security and privacy software provider's half-year revenue already tops its entire revenue in 2021.
Further, the Isle of Man-based firm expects a 2022 revenue of USD610 million to USD624 million, vastly higher than USD230.7 million in 2021.
"We are experiencing growing demand across our full range of product suite, reinforced by our premium service offering. This is testament to the efforts of the entire Kape team who have worked tirelessly to deliver cutting-edge products to market and drive innovation," said Chief Executive Officer Ido Erlichman.
He added: "From the successful integration of ExpressVPN to expanding our burgeoning product stack, we believe we are now ideally placed to capture the global demand from individuals who want to grow their control over their digital lives."
Kape Technologies shares were 3.1% higher at 267.99 pence each in London on Monday morning.
By Tom Budszus; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
KAPE.L