10th Feb 2020 09:44
(Alliance News) - London-based Crossword Cybersecurity PLC on Monday said it expects to deliver growth in the year ahead after Rizikon pipeline continued to grow in 2019.
The technology commercialisation company said it expects to report its 2019 results in line with forecasts, with revenue up by 22% to GBP1.3 million. Crossword said it expects product and consulting revenue to expand by 51% year-on-year.
During the year, Crossword said it began collaborations with Leonardo MW Ltd and NCC Group PLC to use Crossword's third party assurance product, Rizikon, to support their client services delivery.
Rizikon is an online cyber security risk assessment service that enables managers to understand and reduce the cyber security-related risk to their organisations.
"The partner agreements signed in 2019, potentially give thousands of customers access to Rizikon. Rizikon is in a very strong position going in to 2020 with multiple opportunities with our partners and directly, some of considerable size," said Chief Executive Tom Ilube.
"Our staff numbers have increased by almost 40% in 2019, and along with the recent appointment of a very experienced group sales director strengthening the leadership team, gives us the power to deliver growth in 2020," added Ilube.
AIM-listed Crossword shares were trading 3.7% lower in London on Monday at 361.00 pence each.
By Evelina Grecenko; [email protected]
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