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Trading statements

NCC grows revenue by 5.6%

21 September 2017 08:18

NCC, a global cyber security and risk mitigation company, grew continuing revenue by 5.6% to £62.7m in the three months to 31 August.

It said it continued to trade in line with the board's expectations for the full year adjusted EBIT. Escrow revenue benefitted from a one-off change in revenue recognition as noted at end of last year. Excluding this, escrow growth of 2.4% was in line with expectations.

In assurance, the businesses in the UK, US, Netherlands and Denmark delivered double digit organic growth. This included a partial recovery in High Assurance revenues in Fox-IT and a sharp fall in sales of third party products in the UK Managed Security Services business.

The disposals of the Web Performance and Software Testing businesses are underway.

Brian Tenner, interim chief executive, said: "We have made a solid start to the new financial year. Results are in line with the board's expectations and the implementation of the strategic plan is gathering momentum with a number of new initiatives underway. These are being closely managed and monitored to ensure we achieve the target benefits.

"Our underlying markets remain buoyant. We continue to deliver growth while also re-positioning the business to focus on areas that leverage our key strengths and increase margins, through growth in higher value added services."

At 8:18am: (LON:NCC) NCC Group PLC share price was +0.25p at 214.25p

Story provided by StockMarketWire.com

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