Crossword Cybersecurity losses increase in H1 on higher costs

Mon, 27th Sep 2021

Technology commercialisation company Crossword Cybersecurity reported wider first-half losses as climb in revenue was offset by higher costs, driven by legal and professional fees. For the 6 months ended 30 June 2021, pre-tax losses widened by £152,995 to £1.5 million year-on-year, while revenue increased by 22% to £824,923. The wider losses was due to 'additional overheads, particularly for legal and professional fees, as a result of corporate activities such as fund raise, acquisition, and share split, during the period,' the company said. Looking ahead fiscal 2022, the company said it was 'confident' of increasing revenue to £4 million. Story provided by StockMarketWire.com

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