NCC secure revenue rise.
Byline: SHELINA BEGUM email@example.com @ShelinaBegum_
CYBER security group NCC has hailed strong half-year results with group revenue climbing 8per cent to PS126 million.
Reporting results for the six months to November 30, the Manchester company said growth was particularly strong in the US, but UK performance was held back by softer demand in risk management and governance coupled with resource shortages in the technical security consulting business.
We are the progress made, particularly performance Adam NCC Adjusted operating profit from continuing operations of PS14.8m was ahead of last year's PS13.8m.
The period included onerous contract costs of PS1.1m which are not replicated in this year's figure.
Operating profit increased to PS9.5m from PS6.3m as a result of lower levels of adjusting items. The firm said demand in its core markets remains strong although there was a slower start to the year.
pleased with we have with a strong US Adam Palser, CEO, said: "This is an important year of change for NCC Group as we implement our 'Securing Growth Together' strategy and transform the busi-Palser, CEO, ness into a world-leading cyber security and risk mitigation specialist. "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.
"The new team is now focused on accessing the resources to enable the group to fully capitalise on its growth potential. We expect to deliver full year Adjusted EBIT of around PS34m, while our longer term growth prospects remain excellent," said Adam.
We are pleased with the progress we have made, with a particularly strong US performance Adam Palser, CEO, NCC the six 30, BUSINESS. from PS6.3m levels of firm
CEO Adam Palser