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25 Jul 2019 | 09:55

NCC sees 52% rise in FY pre-tax profits as transformation programme on track

Cybersecurity firm NCC reported a 52% increase in full-year pre-tax profit boosted by assurance income in North America, Europe and the Rest of the World but offset by declines in its escrow business.

Pre-tax profits rose to £17.8m with adjusted pre-tax profit up 9.2% to £32m.

Meanwhile, full-year revenue stood at £250.7m, compared with £233m a year earlier.

Looking forward, the company said its operational priorities for full-year 2020 were to achieve continued double-digit growth and margin improvement in its assurance business and stabilise escrow revenue, including by increases its sales capacity.

It added that its three-year transformation programme was progressing on time and within budget.

"We look forward with confidence to a dynamic year," the company said, noting the continued increase in importance and value of cybersecurity in its target markets amid regulatory pressure and high-profile security breaches.

It maintained its total dividend per share at 4.65p, proposing a final dividend of 3.15p per share.

At 9:55am: (LON:NCCL) Ncondezi Energy Limited share price was -0.2p at 7.45p

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