StockMarketWire.com - Cyber security and intelligence services provider Falanx reported higher revenue in the first quarter of the year despite the impact of the pandemic.

For the quarter ended 30 June, revenues were approximately 5% ahead of those for the same period last year.

Sales orders were lower in April and May but began 'to accelerate from June onwards as organisations responded to cyber security issues of working from home and its increased risk profile,' the company said.

'Whilst there has clearly been some impact of COVID on the group's recent revenues, its overall EBITDA loss in Q1 FY21 was reduced significantly by 60%,' it added.

The upbeat performance came off the back higher annual revenue.

The company said it expected to report revenues for the year ended 31 March 2020 in the region of £5.8m, up from £5.2m on-year.

The cyber division won 42 new customers in the year and the Assynt strategic intelligence division benefitted 'significantly from the rollout of major contracts,' the company said.




At 9:13am: [LON:FLX] Falanx Group Plc share price was +0.08p at 1.13p



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