Shearwater Group PLC - London-based cybersecurity services provider - Expects revenue for the year ended March 31 to be around £27.0 million, down 25% from £35.9 million a year prior. Adjusted earnings before interest, tax, depreciation and amortisation is expected to breakeven at £4.4 million. Says net cash position at March 31 was £4.0 million. Adds, it continues to maintain a healthy balance sheet, which will be strenghtend by cash generation in financial 2024. Looking ahead, Shearwater expects to deliver sustainable revenues and profit growth, noting strong pipeline across banking and telecom sectors.

Current stock price: 59.40 pence, up 6.1%

12-month change: down 52%

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