logo-loader
Tech
Crossword Cybersecurity Plc

Crossword Cybersecurity predicts 45% jump in revenue as 2018 trades as expected

In a trading update, the firm also said software-related revenues had increased by more than 100% in the year

Cybersecurity
Contracts were also secured toward the end of 2018 for Rizikon Assurance, the firm's third-party assurance SaaS product

Crossword Cybersecurity Plc (LON:CCS) has forecast a 45% jump in revenues as it traded in line with expectations for the year ended 31 December 2018.

In a trading update, the cybersecurity-focused commercialisation firm said software-related revenues had increased by more than 100% in the year, while contracts for Rizikon Assurance, its third-party assurance software-as-a-service (SaaS) product, were secured toward the end of 2018 and early in 2019.

READ: Crossword Cybersecurity shares start trading on AIM

The contracts covered industry sectors including Health, IT Services, Nuclear & Professional Services, with CCS saying the wins confirmed it confidence in “the strength of the pipeline which has been building since mid-2018”.

Tom Ilube, chief executive of Crossword, said the £2mln in funds raised during the company’s admission to AIM on 14 December would help it to “grow and convert” its £1.4mln pipeline covering 30 companies.

Ilube added that the firm was “well positioned to deliver a year of strong revenue growth”.

In early trading Monday, Crossword shares were steady at 315p.

Quick facts: Crossword Cybersecurity Plc

Price: £5.10

Market: AIM
Market Cap: £23.87 m
Follow

Watch

Crossword Cybersecurity in strong position with a focus on scalable,...

Crossword Cybersecurity Plc's (LON:CCS) finance director speaks to Proactive London following the release of their trading update for the six months to June 2019. The cyber security technology commercialisation firm expects revenue for the period to be “slightly ahead” of last year. Orders...

1 week, 4 days ago

2 min read

;