6th May 2015 07:30
LONDON (Alliance News) - NCC Group PLC Wednesday reiterated its expectations for its full year, as revenue rose 15% in the eleven months to end-April, driven by continued growth in North America.
The provider of escrow, assurance and domain services said revenue rose to GBP115.3 million in the eleven months, up from GBP100.0 million a year earlier, with a rise of 14% coming from organic growth.
The company, which now makes most of its revenue outside the UK, said North American revenue rose 10%, UK revenue rose 5%, while revenue fell 3% in mainland Europe, mostly due to currency movements. Revenue in the company's assurance division was up 18%.
NCC agreed to acquire Accumuli PLC for GBP55 million in cash and shares in March, and a group of European domain services business collectively called Open Registry for GBP14.9 million in cash in January. It said that the integration of Accumuli has begun.
"With the integrations of the new acquisitions under way and with our solid performance in the current financial year, we are exceptionally well positioned in growing markets," said Chief Executive Officer Rob Cotton in a statement.
"We are confident that we will maintain our double digit organic growth and strong cash generation for future years to come," Cotton added.
NCC expects to announce its full year results on July 9.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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