StockMarketWire.com - Cybersecurity company Crossword Cybersecurity said it was 'cautiously optimistic' that full-year results would meet market expectations following higher revenue in the first half of the year.

The company said it expected to report total revenues of £674k, 18% ahead of the comparative period in 2019.

At the end of June 2020, the group's closing cash position was £1.6m.

Crossword said it had secured contracts worth more than 50% of the revenue required in the second half of 2020 to achieve results in line with market expectations.

'With a healthy pipeline, there is cautious optimism of delivering on the market expectations, although this depends on the outcome of several large bids that are currently in progress,' the company said.

'Although there is a high degree of uncertainty due to the current economic climate, the company is cautiously optimistic of reporting full year results in line with market expectations, subject to the outcome of a few major product led bids over the coming months, and continued conversion of our pipeline of opportunities,' it added.

The first-half results were expected to be released in September 2020. Story provided by StockMarketWire.com