Falanx Group Ltd - AIM-listed provider of cyber security and strategic intelligence services - Says Cyber Security Division wins sales orders of GBP2.5 million in six months to September 31, up from GBP1.5 million the year before. As a result, revenue grows 29% to GBP1.8 million from GBP1.4 million.
"The Cyber division is now profitable on a routine monthly basis at an adjusted earnings before interest, taxes, depreciation and amortization ​level," company notes.
Also says it has received final GBP1.5 million tranche of its GBP2.5 million loan facility with Boost & Co.
"The proceeds of the loan, together with the net proceeds of the recent sale of the group's Assynt division, will be used for potential earnings enhancing acquisitions within cyber security and also for organic investment into sales and marketing, ongoing product innovation as well as overall balance sheet strength," company adds.
Current stock price: 1.43 pence, up 14% on Wednesday
Year-to-date change: up 32%
By Paul McGowan; paulmcgowan@alliancenews.com
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