Osirium Technologies cuts spending amid Covid-19 uncertainty

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Cybersecurity software company Osirium Technologies said it had seen little impact on trading up until the end of March from the Covid-19 crisis.

The company, however, said it was reining in spending, including via a temporary freeze on new hires.

'It is difficult to predict the future impact on the group, including the possibility of delayed decision making on behalf of new customers and cancelled industry events,' Osrium said.

At 31 March, the company had cash balances of £2.9m.

'If, in the coming months, we were to see some slow-down in our customer win rate and activities, then we would take additional appropriate action,' the company added.

At 9:35am: (LON:OSI) Osirium Technologies Plc share price was -1p at 37p