Shares in Shearwater Group PLC (AIM:SWG) jumped 16% after the cybersecurity company reported results that will beat City expectations.
The firm, which offers advisory and managed security services, expects revenue of about £41 million for the 15 months ending June 2025, a rise of roughly 45% compared with the previous year.
Adjusted earnings before interest, tax, depreciation, and amortisation are forecast to double to around £2.2 million, up from £0.9 million.
The growth comes thanks to several major new contracts and renewals, reflecting the increasing demand for cybersecurity as organisations face more complex threats.
Shearwater said it has a strong pipeline of work going into the next year, giving confidence in further revenue and profit growth.
Chief Executive Phil Higgins said the group’s expertise puts it in a strong position to help companies deal with rising cyber risks, which have become even clearer in recent months.
The stock, up 43% in the year to date, rose 7.25p on Wednesday to 53.75p.