4th Feb 2021 10:02
(Alliance News) - NCC Group PLC on Thursday posted a rise in earnings for the first half of its current financial year, with the company highlighting "robust" demand for its services despite Covid-19-related disruption.
Shares in the cyber security services provider were trading 3.7% higher at 265.00 pence each on Thursday morning in London.
For the six months ended November 30, NCC posted pretax profit of GBP10.7 million, up 19% from GBP9.0 million the year prior. This was as revenue rose 2.2% to GBP135.6 million from GBP132.7 million.
Gross margin was 40%, up from 39%.
"I am delighted with our trading performance for the period. The response of my NCC colleagues to the challenges caused by the disruption of the pandemic, coupled with robust demand for our services, has led to increased revenues, profitability and cash against a comparator period that pre-dates Covid-19," said Chief Executive Adam Palser.
An interim dividend of 1.5p per share was declared, maintained from last year.
Looking ahead, Palser added: "Although ongoing disruption to some customer segments is still holding cyber resilience spend back from its full potential, we expect accelerated market growth in the future. Full year trading is in line with our expectations. Our balance sheet strength and trading resilience give us a foundation to invest in organic and in-organic opportunities."
As at November 30, 2020, Manchester-based NCC Group had cash of GBP101.1 million, up from GBP33.8 million on the same date in 2019.
By Ife Taiwo; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Ncc