Share Prices & Company Research

Market News

04 Feb 2021 | 09:15

NCC trades in line, predicts faster growth

(Sharecast News) - NCC said full-year trading was in line with expectations as the cyber security adviser reported an increase in first-half profit and predicted faster growth ahead. Adjusted operating profit rose 1.8% to £17m in the six months to the end of November as revenue rose 2.2% to £135.6m.

Pretax profit rose 18.9% to £10.7m and NCC held its interim dividend at 1.5p a share. NCC shares rose 4.7% to 12p at 09:04 GMT.

The company said Covid-19 had caused companies to delay spending on protecting their computer systems from attack but that growth would accelerate as necessary investment was made.

Adam Palser, chief executive, said: "I am delighted with our trading performance for the period. Full-year trading is in line with our expectations, we are also maintaining our interim dividend of 1.5p and our balance sheet strength and trading resilience give us a foundation to invest in organic and in-organic opportunities.

"The rapid adoption of cloud technologies, coupled with spending decisions being delayed in some customer segments, has built up a 'compliance debt' that must be paid down in the future."

The company said it had pre-IFRS16 net cash of £3m at the end of November compared with a net debt of £20.8m a year earlier.

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.