9th Jul 2025 12:45
(Alliance News) - Shearwater Group PLC shares jumped on Wednesday as it hailed a "strong" performance and said it expects results to be "slightly ahead" of expectations.
Shares in Shearwater were up 28% to 59.33 pence in London on Wednesday afternoon.
The London-based cybersecurity advisory and managed security services group said for the 15 months to June 30, it expects revenue of GBP41 million and adjusted earnings before interest, tax, depreciation and amortisation of GBP2.2 million.
The consensus was for revenue of GBP39.0 million and GBP2.0 million for adjusted Ebitda, Shearwater added.
In January, the firm announced it changed its year end from March 31.
For the year to the end of March 2024, it achieved revenue of GBP22.6 million and an adjusted Ebitda of GBP900,000.
Shearwater said the need for its services "continues to grow" as organisations navigate an "increasingly complex cyber threat environment".
It said it is confident of growth in revenue and Ebitda during financial 2026 due to the improved outlook and growing pipeline of opportunities.
"We are delighted to report a strong period of trading with significant growth delivered in both revenue and adjusted Ebitda. Organisations across both public and private sectors are facing an ever-increasing cyber-security threat and the costs of failure have never been more apparent than over recent months," said Chief Executive Officer Phil Higgins.
"Our group companies are all highly respected in their fields and together provide a unique blend of solutions to help organisations navigate this threat. In this context, we enter financial 2026 with a strong pipeline and an expectation of delivering further growth in the year ahead."
By Michael Hennessey, Alliance News reporter
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