Bragg has said last month’s cybersecurity attack has been resolved, with there being no negative impact on revenue or profitability for the Nasdaq-listed firm.
The attack on the supplier took place in the early hours of 16 August, and, according to the firm, was limited to its “internal computer environment”.
At the time of the attack, Bragg said no personal information was affected by the breach.
In an update released on Friday, 12 September, Bragg said it took the appropriate steps to limit the potential impact and followed “industry best practices” with the assistance of independent cybersecurity experts.
The company added it had been able to continue with its operations and there had been no negative impact on revenue or profitability since last month’s attack.
Bragg’s share price was up 4.5% to $2.79 (£2.05) when the market closed on last Friday.
The breach came a week after Bragg reported Q2 revenue of €26.1m (£22.6m), a 4.9% increase from the year prior.
The firm has also secured new debt facilities with the Bank of Montreal, with $6m being made available to support Bragg’s “ongoing working capital and general corporate requirements”.
CFO Robbie Bressler said: “This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan.
“The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects.”
August’s cybersecurity attack on Bragg came after several other firms in the in the sector were impacted by hacks in since the start of the year.
In July, two of Flutter Entertainment’s brands, Paddy Power and Betfair, were hit by a cyberattack.
Some customer data was stolen in the attack, though Flutter noted that no passwords, IDs or payment details were compromised.
Stakelogic was hit in March in a breach which saw emails hacked, according to CEO Stephan van den Oetelaar, who said his inbox had been accessed by the attackers.
The post Bragg states August’s cybersecurity attack is now resolved first appeared on EGR Intel.
Supplier insists no personal information was affected in the hack, with the incident having no impact on its revenue or profitability
The post Bragg states August’s cybersecurity attack is now resolved first appeared on EGR Intel.