Falanx Group Expects FY 2022 Revenue Increase on Improved Pipeline; Shares Rise

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By Michael Susin

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Falanx Group Ltd. shares rose on Thursday after the company said that it expects to report an increased revenue for fiscal 2022 driven by services revenue and improved pipeline.

Shares at 0758 GMT were up 0.07 pence, or 13%, at 0.65 pence.

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The London-listed provider of cybersecurity and intelligence services said revenue for the year ended March 31 is expected to be of around 3.5 million ($4.3 million), up from the profit of GBP3.1 million reported the previous year. The increase represents an organic growth of 14%, boosted by improved professional services revenues.

The company said that gross margins increased to around 40% from 32%.

“Significant planned investment has taken place in the cyber division, particularly around sales and marketing expansion and product innovation. As a result of this, the business has established a far greater pipeline than in previous years,” it said.

Write to Michael Susin at [email protected]

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Credit: www.marketwatch.com /

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