StockMarketWire.com - Cyber defence and intelligence service provider Falanx's group revenues rose by 50% to a record £2.7m in the year ended 31 March.

The group posted a gross profit of £548,653 against a loss of £60,295 last time and operating losses narrowed to £1.6m from £2.6m.

Non-executive chairman Mike Read said:: "The market conditions for growth of Cyber Security and Intelligence for the new year are extremely favourable.

"The board anticipates Falanx Group will reach breakeven within twelve months, with another period of client acquisition and robust, organic growth.

"Cyber and political risks continue to dominate our headlines and are highly likely to grow, placing security issues at the forefront of people's minds.

"Unaffected by Brexit, the General Data Protection Regulation (GDPR) comes into force in May 2018 and will impact all businesses across the UK and Europe, forcing management to address their security requirements or potentially face fines of up to €20m or 4% of global turnover."








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