StockMarketWire.com - Security and risk management consultancy Falanx Group delivered a maiden pre-tax profit of £35,000 for the six months to the end of September on turnover of £12.2m, in line with expectations.

Chairman Karl Barclay said: "Everything I said at the time of the Preliminary Results in September, which didn't reflect the new business, is now beginning to come to fruition. The QinetiQ contract is going well and we expect it to increase in size and scale, and we are pushing ahead with our pipeline of work.

"The restructuring of the business has gone well and I am pleased with the people we have appointed. The acquisitions selected are cash generative and complementary to the existing operations and it is our intention to grow each business by introducing them to new territories and markets.

"As a profitable, high-end security and intelligence provider, led by a strong team of former military, government and corporate security specialists, Falanx is well placed to capitalise on the projected growth in the target markets."


At 8:45am: [LON:FLX] Felix Group Plc share price was +0.88p at 13.63p



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