Crossword Cybersecurity PLC’s (LON:CCS) chief executive has predicted “a big year” ahead for the firm as it reported higher revenues for its 2019.
For the 12 months ended December 31, the AIM-listed group posted revenue of £1.3mln, up from £1.07mln in the prior year, while its pre-tax losses fell to £2.1mln from £2.13mln.
READ: Crossword Cybersecurity completes £1mln fundraising backed by CEO
In the statement, Crossword's CEO Tom Ilube said the company’s pipeline is currently standing at around £6mln, split between both its products and consulting services, and that these funds will allow the firm to drive business growth over the next 12 months.
While some of the company’s clients and opportunities had been affected by the pandemic, Ilube said it was also seeing “increased activity as cybersecurity becomes even more important”.
“Our Rizikon Assurance product pipeline continues to grow and represents nearly £4mln out of the £6mln total pipeline, and we are engaged in several large-scale bid situations”, the CEO added.
The company added that its workforce has nearly doubled to 30 across its locations in London and Krakow in Poland and the firm had managed to “quickly and effectively implement remote working” during the coronavirus pandemic with “minimal impact on clients and sales activity”.
The company's shares were steady at 275p in early trading on Monday.
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