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Corero Network Securities PLC - Amersham, Buckinghamshire-based distributed denial of service cyber defence solutions - Posts revenue of $8.8 million for the six months to June 30, up 6.0% from $8.3 million a year earlier. Pretax loss narrows to $325,000 from $1.2 million, as operating expenses decline by 8.3% to $7.7 million from $8.4 million.
Corero says 20 new customer wins are secured during this period. Earnings before interest, tax, depreciation and amortisation amounts to $900,000, up significantly from $100,000. Looking ahead, Corero says confident of trading for the year will be in-line with market expectations.
Chief Executive Officer Lionel Chmilewsky says: ‘Corero has maintained its strong sales momentum in H1 2022, building on the record performance in the prior year. Having delivered progress across all our key performance indicators in the period, we are now showing clear signs that our enhanced and customer-centric strategy, alongside expanding our sales and marketing efforts, is delivering further tangible results.’
Current stock price: 11.00 pence, up 7.3%
12-month change: up 4.8%
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