Shares in Smarttech247 Group PLC (LSE:S247) rose 16% after the cybersecurity firm reported a 50% increase in annual recurring revenue for the last financial year.
Overall, turnover is expected to exceed €13 million, an 8% year-on-year increase, with adjusted EBITDA surpassing €1.3 million.
The firm achieved 100% client retention for its managed detection and response (MDR) services and expanded operations into the Middle East and Switzerland.
Strategic partnerships with Cisco, Google, AWS, and Splunk further enhanced its capabilities. The audited FY2024 results, scheduled for later this month, are anticipated to confirm this strong performance.
In early trading, the stock was up 1.32p at 9.82p.