Crossword Cybersecurity Sees Sharp Growth In Annual Revenue

LONDON (Alliance News) - Crossword Cybersecurity PLC said Monday that 2018 results will be in ...

Alliance News 11 February, 2019 | 9:19AM
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LONDON (Alliance News) - Crossword Cybersecurity PLC said Monday that 2018 results will be in line with market views, with revenue growth of 45%.

The cyber security company added that software revenue more than doubled in the period and a number of recurring revenue contracts for the company's third-party assurance product, Rizikon Assurance, were secured towards the end of 2018 and early in 2019.

Crossword Cybersecurity raised GBP2 million via an AIM listing in December 2018.

Tom Ilube, the company's chief executive, said: "The [IPO] investment will help to continue to grow and convert the group's current pipeline of GBP1.4 million which stretches over 30 companies in a wide range of sectors. We are well positioned to deliver a year of strong revenue growth."

Shares in the company were untraded at 315.00 pence each on Monday morning.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Crossword Cybersecurity PLC 550.00 GBX 0.00 -
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