- Falanx said it had won significant new sales contracts with recurring revenue and remained on course for operational breakeven this financial year.

The group said the Falanx Cyber business had secured a new security-as-a-service contract with a leading UK-based IT Service Provider, worth more than £200k and Falanx Assynt had won new multi-year contracts for 'Embedded Analysts' with a large US-based Insurance company and a global high street Retailer of beverages.

Chief executive Stuart Bladen said: "It has been an incredibly busy time at Falanx, with key milestones delivered that underpin our business performance going forward.

"Falanx has secured significant new business contracts with ongoing revenue streams that provides us with confidence to reach operational breakeven during the financial year with sufficient cash to see all current operations through to profitability.

"We are also delighted to launch both MidGARD and our US service this month whilst our new sales, new HQ and new Falanx Assynt Brand are all key steps in the rapid evolution of our business."

At 9:58am: [LON:FLX] Falanx Group Plc share price was +1p at 7.25p

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