- Falanx Group says it is trading in line with management's expectations.

It says that as a result of recent UK Government cyber contract wins, a growing client base, and its recent fundraising, net cash is now at GBP1.5m post costs of acquiring ASC.

Falanx has also carefully managed its costs downward and has a reducing burn rate of circa GBP100k per month.

The group also says the managed Cyber Security Services of Falanx Cyber has won a contract by Health Foundation. The core networks of the Foundation will be protected in order to ensure privacy of data and network assurance. This is the first contract to be won using the consultancy process of ASC to deliver prepared client networks for continued long-term protection from our Security Operations Centre. Securing this contract also allows us to prove the application of our services outside of Government and into the Health and Charity markets.

At 9:12am: [LON:FLX] Falanx Group Plc share price was -0.25p at 4p

Story provided by