It already provides its 'Kx' technology, originally developed to crunch data for the financial services sector, to Formula One's Red Bull team. "Formula One is itself interesting but the innovations that occur in Formula One make their way into automotive generally and the biggest automotive manufacturers in the world," Mr Toner said. A search for a new chief executive is at an "advanced stage", Mr Toner said. Mr Toner was speaking as interim results for the half-year ending August 31 revealed it had increased pre-tax profits by 12pc to £8.4m (€9.8m). Quarter two results had been stronger than quarter one - and Mr Toner said the momentum created in the first half would continue for the rest of the year.

Source: Irish Independent November 06, 2019 02:26 UTC