21st Mar 2023 10:35
(Alliance News) - Kape Technologies PLC on Tuesday said that it was in the perfect position to monopolise on demand, after delivering its strongest year to date.
For the year ended December 31, the digital security and privacy software business saw pretax profit jump to USD92.9 million from USD32.7 million a year prior.
Revenue similarly increased to USD623.5 million from USD230.7 million.
Looking ahead, Kape said it has made a strong start to 2023, driven by cross-sell initiatives. It added that it was in the "perfect" position to capitalise on growing demand.
"Kape delivered an outstanding performance in 2022, delivering our strongest year to date. Over 7.4 million paying subscribers globally now consider Kape their company of choice in the digital privacy and security space, up 12% from the previous year," said Chief Executive Officer Ido Erlichman.
He added: "The need for greater digital privacy and security has been key, as more and more individuals are recognising Kape's brands as household names in the digital privacy arena. Kape has delivered consistent profitable growth, executing on our strategic objectives year over year for six years in a row. We believe we are in a perfect position to capitalise on the growing demand in the markets in which we operate, through organic growth and strategic M&A activity."
Kape Technologies shares were trading 0.4% higher at 288.00 pence each in London on Tuesday morning.
By Holly Beveridge, Alliance News reporter
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