(Alliance News) - Corero Network Security PLC on Thursday said trading for the first half of the year was strong and in line with its expectations.
Shares in Corero were up by 16% at 7.28 pence each in London on Thursday morning.
The London-based cybersecurity provider said it expects a 20% increase in revenue for the first six months of 2023 to USD10.6 million from USD8.8 million a year prior.
Corero attributes this growth to "important customer wins" for its SmartWall protection solution, which received orders totalling approximately USD6.0 million during the second quarter of the year.
Order intake during the six-month period was up 13% to 13.0 million from USD10.9 million the year before.
Looking ahead, the company said it will continue to build its sale pipeline in order to maintain momentum in the second half of 2023.
Executive Chair Jens Montanana said: "I am extremely pleased with the momentum that we have built during the first half of 2023, securing a number of key customer wins in the period."
By Sabrina Penty, Alliance News reporter
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Corero Network (CNS)