Crossword Cybersecurity expects to report 45% jump in annual revenue

Writer, Stock Market Wire
Monday, February 11, 2019 - 08:31

Crossword Cybersecurity said it expected to report annual revenue growth of 45% as software related revenue more than doubled.

The upbeat outlook comes as 'a number of recurring revenue contracts for Rizikon Assurance, Crossword's Third Party Assurance Saas product, were secured towards the end of 2018 and early in 2019 in industry sectors including Health, IT Services, Nuclear & Professional Services, confirming management's confidence in the strength of the pipeline which has been building since mid-2018,' the company said.

'2018 was another productive year for Crossword, culminating in our admission to AIM on 14 December, where we raised £2m,' said Tom Ilube, CEO of Crossword.

'The investment will help to continue to grow and convert the Group's current pipeline of £1.4 million which stretches over 30 companies in a wide range of sectors. We are well positioned to deliver a year of strong revenue growth.'

At 8:31am: (LON:CCS) share price was 0p at 315p

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