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Crossword Cybersecurity PLC

Crossword Cybersecurity's full-year results to meet market forecasts

Revenue for the six months to 30 June is expected to be “slightly ahead” of last year

Crossword Cybersecurity Plc -

Crossword Cybersecurity Plc (LON:CCS) expects its full-year results to meet market forecasts following a solid first half.

The cyber security technology commercialisation firm said in a trading update on Friday that revenue for the six months to 30 June is likely to be “slightly ahead” of last year.

WATCH: Crossword Cybersecurity in strong position with a focus on scalable, recurring revenues

Income from consulting and product sales in the first half were “significantly ahead” of last year while revenues dipped in software development, as expected.

Orders received for group’s Rizikon Assurance risk assessment platform were more than double those received in the same period last year. The order book stands in excess of £3mln.

The consulting division launched a new information security product called “virtual chief information security officer” in partnership with IT security company Reliance during the period.

The launch was supported by securing Global Financial Services Institution as its first client – the largest value contract to date.

"The strength of the order book for both Rizikon Assurance and consulting, and the growth in the pipeline, puts Crossword in a strong position for growth at the end of the first half of 2019,” said chief executive Tom Ilube.

 “Our continued focus is on scalable, recurring product revenue, through conversion of pipeline into orders."  

Quick facts: Crossword Cybersecurity PLC

Price: 480 GBX

Market: AIM
Market Cap: £22.47 m
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