Falanx Group Ltd - AIM-listed provider of cyber security and strategic intelligence services - Pretax loss in the financial year that ended March 31 widens to GBP3.6 million from GBP2.9 million the year before. Revenue slips to GBP5.2 million from GBP5.9 million. Notes monthly recurring revenues broadly consistent with 2020. Says order intake now ahead of pre-Covid-19 pandemic levels.
Chief Executive Mike Read says: "Cyber protection is no longer a 'nice to have', instead it is an essential part of any business risk discussion. Hackers and criminals are attacking every sector and every size of organisation. With the need for home working, arising from Covid-19, hacking has been made easier and risks have increased, organisations can no longer avoid investing in protecting themselves.
"Clearly like other organisations we have experienced some delays in the progress of our business due to Covid-19 but recent growth has been encouraging and it seems as though these are now behind us."
Looking ahead, Read says company "well positioned" to take advantage of "increasingly favourable cyber-security market trends" to "deliver significant shareholder value".
Current stock price: 1.00 pence, down 4.8% on Wednesday
Year-to-date change: down 7.4%
By Paul McGowan; paulmcgowan@alliancenews.com
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