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NCC Group Confident As Annual Profit Surges In "Transformational" Year

(Alliance News) - NCC Group PLC on Thursday said its earnings grew in its most recently ended ...

Alliance News 25 July, 2019 | 11:27AM
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(Alliance News) - NCC Group PLC on Thursday said its earnings grew in its most recently ended financial year, thanks to its transformation programme.

The cyber security consulting company said pretax profit in the year to the end of May rose 52% to GBP17.8 million from GBP11.7 million reported a year ago, as revenue 7.9% climbed to GBP250.7 million from GBP233.0 million.

The company said these results have been achieved alongside "significant" transformation activity which is building a strong platform for future scalable growth and margin improvement.

As part of restructuring, NCC said it intends to return all parts of its Assurance division to double-digit growth in the year ahead. In its financial 2019, the Assurance unit delivered 9.7% revenue growth.

Meanwhile, the Escrow division revenue have decreased over the year by 2.8%, the company said, with North America up 11%, but UK down 6.5%.

NCC declared a 4.65 pence a share dividend, unchanged year-on-year.

"This has been a pivotal year in NCC Group's transformation as we lay the foundations to enable us to compete and win globally, delivering on our mission to make the world safer and more secure," said Chief Executive Adam Palser.

"We look forward with confidence to a dynamic year where we consolidate our global propositions, develop our new cloud-resilience escrow-as-a-service offering, and improved performance in all our core businesses and markets," added Palser.

NCC Group shares were trading flat on Thursday in London at 171.80 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NCC Group PLC 204.50 GBX -0.24 -

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