We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Falanx Group Limited | LSE:FLX | London | Ordinary Share | VGG3338A1075 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.525 | 0.50 | 0.55 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFLX
RNS Number : 9005R
Falanx Group Limited
15 December 2016
Falanx Group Limited
("Falanx" or "the Company")
ANNUAL GENERAL MEETING STATEMENT AND TRADING UPDATE
Falanx Group (AIM:FLX), the global intelligence, security and cyber defence provider, is pleased to provide an update on its current trading, ahead of the Company's Annual General Meeting, which will be held today at 10:00am at the offices of DWF LLP at 31(st) Floor, 20 Fenchurch Street, London EC3M 3AGr.
Trading Update
The Company is pleased to announce further progress in its third quarter, in line with the guidance given in its interim results released on 1 November 2016, with highlights as follows:
-- Falanx Cyber Defence has secured its first FTSE100 Banking and Retail Financial Services client. Initial revenue of GBP0.4m is expected to be generated in the current financial year.
-- Falanx Intelligence has additional contracts to provide embedded expertise and increased services to a FTSE100 Telecoms Major and a FTSE100 Audit and Consultancy organisation, generating GBP0.24m and GBP0.23m respectively in this financial year.
-- Focus on the Financial Services sector is proving successful, with a total of GBP1.25m of revenue being generated in this financial year by the provision of Intelligence and Cyber Defence services to a wide range of Banking, Fund Management, Trading and Financial Support services.
-- On track for planned organic growth in H2, with significant staff hiring programme. -- Sufficient cash to fund H2 organic needs on a debt free basis.
The above described contracts, together with an ongoing focus on the Financial Services sector, have contributed to a good financial performance by the Company in the third quarter. It is clear that cyber-security and hacking is only increasing as an issue, not just for larger firms, but also for mid-sized firms who are handling sensitive transactions and significant sums of capital, but often unable to fund enlarged security teams within their smaller operational budgets. These firms are now looking to buy in their cyber defense and intelligence as a managed service and this mid-market is maturing quickly as a result.
Outlook
Falanx continues to make considerable progress in 2016, both in terms of its financial performance, contract wins and the strengthening of our senior executive team. We are engaged in a significant recruitment push across the business, which will, in turn, underpin our continued drive to positive cash flow from operations next year. As a consequence of the quality of our people and our offering, and the continued growth of the markets in which Falanx operates, we look forward to reporting full-year revenue in line with our expectations and, with considerable confidence, to 2017.
A downloadable copy of the CEO's presentation for the 2016 AGM can be found at;
http://www.falanxgroup.com/aim-rule-26/announcements/
Enquiries:
Falanx Group Limited via Walbrook PR Stuart Bladen, Chief Executive www.falanxgroup.com www.falanxassuria.com www.falanxcyberdefence.com Panmure Gordon (UK) Limited Nominated Adviser & Joint Broker Andrew Godber / Peter Steel +44 (0) 20 7886 2500 Whitman Howard Limited Joint Broker Nick Lovering / Francis North +44 (0) 207 659 1234 Walbrook PR (Media and +44 (0) 207 933 8780 Investor Relations) Paul falanx@walbrookpr.com Cornelius / Nick Rome
About Falanx
Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. The Group listed on AIM in June 2013 under ticker FLX For more information: http://www.falanxgroup.com/
MAR
This announcement contains inside information for purposes of Article 7 of Regulation (EU) No 596/2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMFFESFIFMSEEE
(END) Dow Jones Newswires
December 15, 2016 02:00 ET (07:00 GMT)
1 Year Falanx Chart |
1 Month Falanx Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions