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Osirium Technologies sees little impact from Covid-19

By Iain Gilbert

Date: Wednesday 08 Apr 2020

Osirium Technologies sees little impact from Covid-19

(Sharecast News) - Cybersecurity firm Osirium Technologies said on Wednesday that it had experienced little impact to trading so far as a result of the Covid-19 outbreak, but cautioned that it could not fully predict the virus' effects on its future performance.
Even so, Osirium said it was still cutting spending, including a freeze on new hires, in order to protect itself from any potential future impacts.

The AIM-listed group warned it was "difficult to predict" future impacts of the contagion, including the possibility of delayed decision making on behalf of new customers and cancelled industry events.

Osirium said if it was to see some slow-down in its customer win rate and activities, then it would take "additional appropriate action".

Chief executive David Guyatt said: "We cannot ignore the increasing impact on our business of the Coronavirus pandemic and the uncertainties this creates on our current customers and prospects.

"To the best of our ability we have factored this into our planning and, with our expanded offering and a solid foundation of visible revenue, the board has confidence in the group's ongoing momentum."

Elsewhere, Osirium announced the renewal for a further 12-months of its contract with a combined grouping of two major UK regional Police Authorities.

As of 1410 BST, Osirium shares were down 1.05% at 37.60p.


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