(Alliance News) - NARF Industries PLC said that its share suspension will be lifted on Friday, following the publication of its results earlier this week.

The US-focused cybersecurity provider said the suspension on its shares will be lifted later Friday.

On Tuesday, NARF reported contract revenue of USD2.6 million in the year to December 31, 2022, up from USD1.9 million the year prior. Its pretax loss multiplied to USD18.4 million from USD770,579 before with loss per share of 1.3 pence compared to 0.1p.

In 2023, NARF expects revenue to more than double to USD5.8 million in 2023 and forecasts a 50% fall in operating expense of USD1.4 million when compared to 2022. It also targets break-even earnings before interest, taxation, depreciation and amortisation for 2023.

Executive Chair, John Herring said: "To avoid any further delays in returning our shares to trading we took the difficult decision of accepting a number of disclaimers and qualifications to the audit report at this time, but are working to resolve all 2022 matters and preclude any future disruption to timely reporting."

By Sophie Rose, Alliance News reporter

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