Corero Network Security makes 'strong start' to H2

Cybersecurity firm Corero Network Security said on Monday that it had made a "strong start" to the second half of the year after it generated roughly $2.0m of orders during the third quarter, driven by "significant orders" from both new and existing customers.

Corero stated it had secured orders for its SmartWall distributed denial of service protection solution from a US-based provider of communication technologies and services and a communication service provider within the Southern Asian region - both of which were new customers.

The AIM-listed group also locked in contract expansions with a North American regional provider of internet and phone services and "a leading" service provider delivering data and communication services across the Caribbean, Central America, and Asia Pacific.

Chairman Jens Montanana said: "We are pleased to have secured these important customer wins and report a strong start to our second half of the year. We are continuing to build upon the momentum gained during the first six months of 2023 as demonstrated by these recent successes."

As of 0935 BST, Corero shares were down 3.20% at 6.80p.

Reporting by Iain Gilbert at Sharecast.com