21st Jan 2016 07:56
LONDON (Alliance News) - Cyber security firm NCC Group PLC Thursday said it expects to meet market expectations for its full year, as it reported a fall in pretax profit for its first half on exceptional costs, and raised its interim dividend.
For the half year to end-November NCC reported a pretax profit of GBP7.5 million, down from GBP10.6 million a year before, as a rise in revenue to GBP93.5 million from GBP62.3 million was offset by exceptional costs of GBP4.2 million related to acquisitions and an intangible asset write down.
NCC proposed an interim dividend of 1.50 pence, up 15% from 1.30 pence a year before.
The company said its revenue had been driven by very strong growth from its Assurance and Escrow divisions, and boosted by the company's acquisitions of Accumuli, and Open Registry in the previous year. On an organic basis, stripping out acquisitions, revenue was up 17%.
Towards the end of the period the company acquired Fox-IT for GBP92.6 million, which it plans to integrate into its Assurance segment over the next year.
"We have delivered another strong set of results with group organic revenue growth increasing by 17%. We are in an excellent position to continue to grow the group organically as well as benefiting from the recent acquisitions of Accumuli and Fox-IT going forwards," said Chief Executive Rob Cotton in a statement.
"With over 600 cyber security consultants around the world and our increasing range of capabilities, we are well positioned to meet our aspirations to become the leading player in the expanding global cyber security market," Cotton added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Ncc