The FTSE-250 listed cybersecurity company NCC issued full year results this morning noting headline revenues down 2.6%. Falling cybersecurity sales were the key driver here but margin improvement was seen however this wasn’t sufficient to shore up EBITDA. A strategic review of the business remains underway with the possibility of this returning significant capital to shareholders, but anyone hoping for a more concrete update today has evidently been left underwhelmed. The NCC share price was down as much as 7% initially although the losses were being recouped at pace as the session got underway.
Energy producer Drax issued a trading update this morning where management advised that full year results would see EBITDA come in at the top end of consensus estimates. Free cashflow will continue to fund capital expenditures and the company also announced plans to repurpose existing infrastructure at a power station in Yorkshire, converting it into a datacentre, which could be operational as soon as 2027. The Drax share price was around 2% higher shortly after the open.
The specialist motor and property lender issued a trading statement this morning noting continued success with the company’s turn-around plans. Group net borrowings continue to rise, underlying the company’s success as it shares in a broader sector recovery, whilst the update also teases a project which will allow larger, flexible mid-term facilities, driving further expansion of the business. The S&U share price was 4% higher in early trade.
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