Home » Market News » DirectorsTalk Highlights » INTERVIEW: Falanx Group Ltd Strong growth across all service lines
Falanx Group Ltd

INTERVIEW: Falanx Group Ltd Strong growth across all service lines

Falanx Group Ltd (LON:FLX), a cyber defence and intelligence service provider working with blue chip and government clients worldwide, has today to announced its audited results for the year-ended 31 March 2017. DirectorsTalk caught up with CEO Stuart Bladen to discuss the strong results.

 

Period Highlights

· Strong growth across all service lines

· Group Revenue +50% to a record £2.7m

· Cyber Revenues +300% to c.£1m

· Intelligence Revenues +13% to £1.8m

· EBITDA – progress towards profitability as planned

· Debt free after redeeming all loans in October 2016

· Board strengthened with appointment of new CEO and Executive Director Cyber Defence

· Successful Integration of Advanced Security Consulting Ltd acquisition

· Pilot launched in February 2017 for MidGARD – a proprietary monitoring platform

· Awarded UK Government CHECK accreditation

Post Period Highlights

· Oversubscribed placing of £2m of equity in May 2017 to augment future growth

· Acquisition of Cloudified Ltd broadens reach and enhances SME focused offering

Outlook

Falanx continues to see new clients and opportunities in its’ pipeline post the financial year-end. Market conditions remain robust and we view the future with confidence.

· The combination of our own proprietary technology, 360-degree service model and intelligence insights, sets Falanx apart from other smaller security vendors

· Channel partnerships will enable scale-deployment of MidGARD

· Strong sales opportunities for all three trading divisions

Non-Executive Chairman Mike Read, commented: “The market conditions for growth of Cyber Security and Intelligence for the new year are extremely favourable. The Board anticipates Falanx Group will reach breakeven within twelve months, with another period of client acquisition and robust, organic growth. Cyber and political risks continue to dominate our headlines and are highly likely to grow, placing security issues at the forefront of people’s minds. Unaffected by Brexit, the General Data Protection Regulation (GDPR) comes into force in May 2018 and will impact all businesses across the UK and Europe, forcing management to address their security requirements or potentially face fines of up to €20m or 4% of global turnover.”

Falanx Group Ltd CEO, Stuart Bladen, commented: “Falanx has experienced robust revenue increases across all lines of business driven by geopolitical instability, rising cyber-crime, and increasing regulatory requirements such as GDPR, PCI-DSS and the Cyber Essentials programme.”

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.