15th Oct 2015 08:21
LONDON (Alliance News) - NCC Group PLC on Thursday said it had a strong first four months of the financial year, with strong performances for its Escrow and Assurance Divisions and an improving outlook for its Domain Services business even as it shifts its focus within the unit.
NCC, which provides escrow, verification, security consulting, website performance, software testing and domain services, said group revenue in the four months to the end of September rose 48% to GBP58.5 million, with organic growth of 17% in the business.
While its Escrow and Assurance divisions both delivered robust organic sales growth, NCC said its Domain Services business saw its organic revenue rise 60% in the period, helped by managed service sales. Managed service will now become the core focus for the Domain Services division, the company said, given the delays faced in the development of the domain services market.
"We remain on course to sustain our double-digit organic growth and strong cash generation and are set to meet our expectations for the financial year to May 31, 2016," said NCC Chief Executive Rob Cotton.
NCC shares were up 1.5% to 267.25 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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