Smarttech247 Group PLC unveiled on Tuesday results from its main subsidiary Zefone Ltd which showed healthy growth in revenue and profitability.

The Cork, Ireland-based artificial intelligence-enhanced cybersecurity services provider said revenue at Zefone jumped 41% to €10.2 million in the year to July 31, 2022 from €7.2 million a year prior.

It reported pretax profit improved 18% to €1.5 million from €1.3 million.

The trading period saw a significant number of new contracts wins that will drive revenue, Smarttech247 said, with business focused on the continued growth of its customer base in the UK, Europe and the US.

Trading in the first half of the new financial year is ahead of budget, with Zefone’s interim results to be included in Smarttech247’s interim figures due to be reported this month.

Smarttech247 Chief Executive Raluca Saceanu said: ‘The company has the platform in place to gain further momentum, accelerate its revenue growth and deliver our technology to all existing and new partners.’

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