StockMarketWire.com - Falanx, the global intelligence, security and cyber defence provider, posts a pre-tax loss of £729,760 for the six months to the end of September - down from £1.3m last time.

Turnover was £1.2m (2015: £0.79m) with Falanx Intelligence's revenue improved at £0.9m (2015: £0.77m) and Falanx Cyber's revenue very significantly improved at £0.3m (2015: £0.03m).

Looking ahead, the group says: "The Cyber market is still growing strongly, driven by significant cyber threats, growing regulation, and frequent publicity on security breaches.

"In light of this growth, the ASC acquisition has broadened our Cyber portfolio, and is delivering new sales often with multiple services. This is promoting broader client engagement and annuity revenue. To meet the scale of growth, Falanx Cyber is moving to a new Security Operations Centre (SOC) in Birmingham City Centre. This will refresh and expand our capacity, whilst lowering unit cost for real estate and staff.

"Cyber Defence orders and pipeline are extremely strong in the Financial Services sector, bringing on board clients as prestigious as Vanquis Bank, part of the Provident Group, and working with partners such as Nasstar Plc to take our services to an ever growing market.

"Our Intelligence division is also expected to continue to expand, providing steady organic growth above 15% with the greatest contribution of revenue being generated by long-established and highly respected 'Blue Chip' clients. In order to meet client demand in all areas we are planning a significant recruitment push, this will in turn underpin our continued drive to positive cash flow from operations next year. As such, we plan to meet H2 needs for expanded working capital from the recent equity subscription."




Story provided by StockMarketWire.com