Crossword Cybersecurity drops after trading update

The price of shares in AIM-listed Crossword Cybersecurity (LON:CCS) tumbled 3.47% to 362p (as of 12:55 GMT) as it announced that results for 2019 would be in line with expectations. Revenues for the period ended 31st December were up by 22%, with an increasing proportion coming from consulting as the group shifts away from software development.

CEO Tom Ilube commented: “During 2019, the Rizikon pipeline continued to grow, and version 2, launched in September 2019, is a product capable of adding value to all companies, regardless of their size or industry. The partner agreements signed in 2019, potentially give thousands of customers access to Rizikon. Rizikon is in a very strong position going in to 2020 with multiple opportunities with our partners and directly, some of considerable size.

“Our staff numbers have increased by almost 40% in 2019, and along with the recent appointment of a very experienced Group Sales Director strengthening the Leadership team, gives us the power to deliver growth in 2020“.