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27th November 2019

Shearwater Group plc announces its unaudited results for the six months ended 30 September 2019

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Highlights:

  • Group revenue up 262% at £16.3 million (2018: £4.5 million)
  • Underlying organic revenue growth of 11%
  • Group Underlying EBITDA of £1.0 million (2018: EBITDA loss of £1.6 million)
  • Adjusted earnings per share of 2.23 pence (2018: loss 18.73 pence)
  • Acquisition of Pentest substantially expands security testing and “red teaming” capability
  • New software product developments, including launch of cloud hosted “as-a-service” offerings to complement on-premise solutions
  • Substantial number of live cross-selling opportunities generated – 19 converted into contract wins