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NCC recovery continues as cyber arm starts growing again

Published 20/06/2024, 10:20
© Reuters.  NCC recovery continues as cyber arm starts growing again

Proactive Investors - NCC Group PLC (LON:NCCG) said it would beat profits expectations in the twelve months to end May 2024 as its cyber security business returned to growth in the second half.

Adjusted operating profit is expected to be ahead of consensus at around £31million driven by delivering targeted efficiencies in gross margin and operating costs.

Group revenues are now expected to be 1% lower on a constant currency basis at £324 million or a drop of 3% at actual rates.

The software group has changed its year-end and its next results announcement will be for the sixteen months ending 30 September 2024,

Between 31 May to 30 September 2024, a historically quieter trading period, NCC said it expects overall revenue to be in the region of c.£100m, generating an adjusted operating profit margin of c.3.5% (4 months ended 30 September 2023:.£1m adjusted operating loss).

Mike Maddison NCC’s chief executive, added: "We have delivered a second-half financial performance ahead of our Adjusted Operating Profit expectations and continued to transform the business on many fronts.

“It is exciting to see Managed Services continue to grow, which is central to our Cyber strategy, and Escode [Escrow] continue to experience consecutive revenue growth alongside its new brand launch early in the year."

Shares rose 3.5% to 128.8p.

Read more on Proactive Investors UK


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