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Annual Results

NCC revenue rises

18 July 2017 07:59

NCC said revenue increased 17% to £244.5m (2016: £209.1m) and organic growth of 3% excluding impact of FX and acquisitions in the year to 31 May 2017.

HIGHLIGHTS

- Operating loss £53.4m (2016: profit £11.4m)

- Adjusted EBIT £27.5m (2016: £39.7m)

- Individually significant charges of £71m, including intangible asset write downs of £62m

- Adjusted EBITDA £36.2m (2016: £45.0m), in line with revised expectations

- Adjusted basic earnings per share 6.7p (2016: 11.8p)

- Basic loss per share 20.4p (2016: earnings 2.5p)

- Net debt reduced to £43.7m from half year level of £48.8m

- Total dividend maintained at 4.65p per share with final dividend of 3.15p per share

- Completed two small US based bolt-ons

- Significant changes to the Board

STRATEGIC REVIEW

- Markets and customer views of NCC services continue to be positive

- NCC scores highly against the most important key customer purchasing criteria

- Escrow remains an attractive business and stabilises the group

- Web Performance and Software Testing businesses to be sold

- Business needs better internal organisation - changes to operating model underway

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Related Company: NCC

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