12th Sep 2024 12:23
(Alliance News) - NCC Group PLC on Thursday raised its profit outlook, citing a healthy performance in its Cyber Security division.
The Manchester-based cyber security company said that for the four months to September 30, it now expects adjusted operating profit of around GBP6 million, on revenue of GBP104 million.
It had previously predicted profit of GBP3.5 million on revenue of around GBP100 million. It had suffered a USD1 million loss a year prior.
"Following our August close process, we are pleased to have experienced better-than-expected performance in our Cyber Security division during this historically quieter trading period of the calendar year," NCC said.
Chief Executive Officer Mike Maddison said: "We have seen the benefit to gross margin from the actions we took over 12 months ago to align our global delivery and operational headcount. We continue to simplify our business, aligning ourselves to our client needs in a competitive marketplace, to generate profitable revenue growth and sustainable gross margins. Our transformation journey is ongoing, and we continue to build out our core Cyber Security capabilities and our separate Escode re-branded business, which both provide future growth opportunities to continue to enhance shareholder value."
NCC will release its results for the 16 months ended September 30 on December 10.
The company in June said it changed its financial year-end to September 30. Its financial year-end was previously at May 31.
NCC shares rose 12% to 169.50 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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