Corero Network Security plunges on revenue setback

AIM-listed cyber-security firm Corero Network Security (LON:CNS) has seen its share price drop by 41.31% to 3.70p (as of 14:30 BST) after it said that revenues during the first half of 2019 were about 16% below last year. Management said that the company’s pipeline had not converted as many opportunities as expected, but that they believe that this will pick up during the second half.

CEO Ashley Stephenson commented: “Despite the growing pipeline of business being generated through the Juniper partnership, the year has started slower than we expected. Encouragingly we have many trials in process and these are moving forward with success. I am also confident that our investment in our sales function will accelerate the development of our routes to market and therefore underpin Corero’s future growth“.