7th Jul 2016 06:55
LONDON (Alliance News) - NCC Group PLC on Thursday said its pretax profit for the year to the end of May was pulled lower by one-off charges, but underlying trading proved very strong and the information assurance group hiked its dividend payout.
The FTSE 250 company provides software escrow and verification, cyber security consulting and managed services. It said pretax profit for the year to May 31 was GBP9.4 million, down from GBP21.4 million a year earlier as the group booked an GBP18.9 million one-off charge after shutting down its Domain Services business.
Stripping out the one-off charge, adjusted earnings before interest, taxation, depreciation and amortisation for the year was GBP43.7 million, up 48% from GBP29.5 million a year prior.
Underlying profit growth was pushed higher by revenue rising 56% to GBP209.1 million from GBP133.7 million, boosted by the acquisition of Fox-IT and the integration of cyber security firm Accumuli. Organic revenue growth for the year was 17%, with a very strong performance from Escrow services.
NCC declared a final dividend of 3.15 pence, taking its total payout up 17% year-on-year to 4.65p.
Rob Cotton, NCC's chief executive, said it had been a "notable year of progress" for the company and said he was confident growth will continue as NCC rolls-out the threat intelligence services of Fox-IT to customers across the business.
By Sam Unsted; [email protected]; @SamUAtAlliance
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