Cyber attack cost Loyaltybuild millions of euro

The managing director of Loyaltybuild confirmed yesterday that a "very sophisticated cyber attack" 14 months ago cost the firm millions of euro in lost revenues.

Richard Hadfield was commenting yesterday on new accounts that show that Loyaltybuild Ltd’s pre-tax profits declined by 69% to €1.3m in 2013 in spite of revenues increasing by 10% to €12.3m.

The Ennis-based firm that operates a customer loyalty programme for the likes of SuperValu and Axa was the victim of a cyber attack on November 13, 2013.