Operations Update

RNS Number : 4081V

Falanx Group Limited

28 October 2014

 

FALANX GROUP LIMITED

("Falanx" or "the Company")

Operational Update

Falanx Group Limited, a security and risk management consultancy working with blue chip and government clients worldwide, is pleased to give investors an operational update following the end of the half year period to 30 September 2014.  Falanx's Intelligence and Resilience Divisions have continued to provide outstanding services in support of clients operations internationally and the Cyber Division has expanded its product offering ahead of the opening of the Security Operations Centre.

Falanx Intelligence

Stirling Assynt's excellent reputation in the market for its political and security risk assessments and business intelligence services continues to attract new custom, and the company has taken on a number of new blue chip clients in the current financial year.  Of note has been the success of the seconded analyst service, which now has six analysts working in client companies, including a large international bank, a major insurer, a global accountancy firm and one of the UK's biggest telecoms providers.

Falanx Resilience

Having successfully completed a major project earlier this year, the division is at an advanced stage of negotiation to begin delivery of two new significant training and advisory projects in the Middle East over the next three years. The scope of these is still under discussion, but revenues are likely to exceed those for previous such projects.  Detailed negotiations are also ongoing with two strategic partners in the Middle East for the manufacture and delivery of a range of blast mitigation products.

Falanx Cyber

Falanx Assuria, the new Cyber Defence offering has been successfully established with the support of Falanx's partner, Assuria Limited, which provides the advanced and highly effective British protective monitoring technology on which the cyber defence capability is based.  

Falanx was delighted to be invited by the City Security and Resilience Networks (CSARN) organisation to sponsor their recent event, held in J P Morgan's excellent facilities at their Canary Wharf headquarters, which focused on cyber security for financial services organisations.  This enabled Falanx Assuria to highlight the new capability offered and which is explained in detail on the new website at www.falanxassuria.com.

The Cyber SOC (Security Operations Centre) goes live at the end of this month and will provide services to both Government and Commercial clients.  It will be the UK's first cyber defence managed services offering, ensuring effective cyber defence at a cost affordable for SMEs.   It will also provide UK Government recommended levels of security at significantly lower rates than competitors for both large corporate and Government clients.

The first UK Government client has been secured, with others expected to follow.  In addition, along with the partner companies, Falanx Cyber is negotiating several strategic contracts for the design and delivery of dedicated end-to-end cyber security facilities internationally.

John Blamire, CEO of Falanx Group, commented:

"The progress made in our maiden year on AIM has continued into the new financial year. All the divisions have made an excellent contribution, in particular Falanx Cyber where the new cyber defence service operations centre will go live at the end of the week.  New contracts have been won and we will hopefully have more to announce in due course."

28^th October 2014

Enquiries:

Falanx Group Limited John Blamire, Chief Executive www.falanxgroup.com	+ 44 (0) 20 7856 9457
Charles Stanley Securities Nominated Adviser & Broker	[phone]
Mark Taylor
Lothbury Financial Services Michael Padley / Gary Middleton	[phone]

 

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