28th Oct 2014 10:22
LONDON (Alliance News) - Falanx Group Ltd on Tuesday said it has seen a strong performance from all its business units this year, with contract wins for its Intelligence and Resilience arms and an expansion of is Cyber arm.
The security and risk management consultancy said its Falanx Intelligence business has won a number of new contracts this year, including in its second analyst service.
Falanx Resilience also is performing well and is in advanced talks to start delivery on two training and advisory projects in the Middle East over the next three years, Falanx said. The scope of the contracts remains under discussion, Falanx said, but the revenue is likely to exceed what was generated from similar projects in the past.
The company also is in talks with two strategic partners in the Middle East for the manufacturing and delivery of a range of blast mitigation products.
In its Cyber business, the group has expanded its offering through its partnership with Assuria Ltd. The joint venture between the pair is called Falanx Assuria.
The Cyber arm recently secured its first UK government client, Falanx said, and it expects to win more in the future. In addition, it is in negotiations for several strategic contracts for the design and delivery of end-to-end cyber security facilities.
"The progress made in our maiden year on AIM has continued into the new financial year. All the divisions have made an excellent contribution, in particular Falanx Cyber where the new cyber defence service operations centre will go live at the end of the week. New contracts have been won and we will hopefully have more to announce in due course," said Falanx Chief Executive Officer John Blamire.
Falanx shares were up 3.6% to 29.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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