Education and business security software provider Corero expects group revenue for the past year to show “strong growth”.
In a trading update for the six month period ended 30 June 2012, the London-listed software group, said results have been driven by “a number of key customer wins”.
Its management software arm Corero Business Systems posted 19% revenue growth, with sales increasing to $4.7 million (£3.0 million), from $4 million in the second half of 2011. Revenue also climbed 18% at Corero Network Systems, to $6.7 million.
The group said the “significant threat” from cyber attacks provides confidence that Corero’s intrusion prevention software ‘First line of defense’ will provide stronger growth prospects. But it warned that economic uncertainty across Europe could affect sales growth.
Andrew Miller, chief operating officer at Corero, said: “The board is confident that both businesses will deliver strong medium-term growth, giving us visibility of a path to group profitability.”
In February Corero Business Systems said it had won contracts from 192 academies in the year ended 31 December 2011. The same month, the group also announced plans to raise £4.6 million to provide management software to academy schools.
In a separate statement, the group announced the appointment of Paul Lawrence as vice president of international operations.
Lawrence brings more than 30 years experience in the IT industry, including management positions in security firms Barracuda Networks and AirTight Networks.