Posted on January 25, 2019 by staff

Cyber security group posts revenue of £126m


UK cyber security group NCC has reported its half year results with revenue climbing 8 per cent to £126m.

Based in Manchester’s XYZ building, the company was founded in 1999 and now has locations around the UK.

The publicly listed firm said demand in its core markets remains strong although there was a slower start to the year.

It reported that the Escrow division’s revenue for the six months ending 30 November fell to £18.9m, a drop of 2 per cent on the same period in the previous year as 11 per cent growth in the US was offset by a 4.4 per cent decline in the UK and 5.3 per cent decline Europe.

“This is an important year of change for NCC Group as we implement our ‘Securing Growth Together’ strategy and transform the business into a world-leading cyber security and risk mitigation specialist,” said CEO Adam Palser.

“We are pleased with the progress we have made, with continued growth in our core Assurance division and a particularly strong performance in the US, the world’s largest cyber market.

“While profits from our Escrow division fell slightly, our experience in the US has given us confidence that we can re-energise the growth of this business.

“We have assembled an excellent management team and are now installing the systems and processes that will enable us to operate as a unified global business, helping us to win more major contracts and focus on recurring, higher margin work.

“The new team is now focused on accessing the resources to enable the group to fully capitalise on its growth potential, with retention and recruitment a key priority. We expect to deliver full year Adjusted EBIT of around £34m, while our longer term growth prospects remain excellent.”