Cybersecurity firm Darktrace expects higher annual profit margin

(Reuters) - British cybersecurity firm Darktrace Plc said on Tuesday it expected its annual profit margins to be about 19.5% higher than its previous guidance range, buoyed by steady customer growth.

The company had previously said it expected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margins between 15% and 17% for the full year.

Darktrace, which uses artificial intelligence to detect attacks and vulnerabilities inside IT networks rather than building barriers at the perimeter, expects annualised recurring revenue to grow between 31% and 34% for the upcoming financial year.

(Reporting by Eva Mathews in Bengaluru; Editing by Rashmi Aich)