Trading Update to 30 September 2024
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated by the Market Abuse Regulation (EU) No.596/2014, as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
12 September 2024
NCC Group plc
Trading update - four-month period to 30 September 2024
NCC Group plc (LSE: NCC, "NCC Group" or "the Group"), a people-powered, tech-enabled global cyber security and software escrow business, provides the following unaudited trading update for the four months ending 30 September 2024 (the "Period").
Our previous guidance for the Period outlined that we expected overall revenue to be in the region of c.£100m and adjusted operating profit of c.£3.5m (four months ending 30 September 2023: c.£1m adjusted operating loss).
Following our August close process, we are pleased to have experienced better-than-expected performance in our Cyber Security division during this historically quieter trading period of the calendar year. This has resulted in increased expectations for the Period, with overall revenue expected to be in the region of £104m, representing c.4% growth versus the equivalent period in 2023, and Group adjusted operating profit expected to be approximately £6m.
The Group will publish its audited Group results for the 16 months ending 30 September 2024 on 10 December 2024.
Mike Maddison CEO said:
"We have seen the benefit to gross margin from the actions we took over 12 months ago to align our global delivery and operational headcount. We continue to simplify our business, aligning ourselves to our client needs in a competitive marketplace, to generate profitable revenue growth and sustainable gross margins. Our transformation journey is ongoing, and we continue to build out our core Cyber Security capabilities and our separate Escode re-branded business, which both provide future growth opportunities to continue to enhance shareholder value."
Contact information
Investor enquiries:
|
Yvonne Harley Director of Investor Relations & Sustainability |
Tel: +44(0)7824 412405 |
Media enquiries:
|
H/Advisors Maitland Sam Cartwright/Genevieve Ryan |
Tel: +44(0)20 379 5151 |
About NCC Group plc
NCC Group is a people-powered, tech-enabled global cyber security and software escrow business.
Driven by a collective purpose to create a more secure digital future, c. 2,200 colleagues across Europe, North America, and Asia Pacific harness their collective insight, intelligence, and innovation to deliver cyber resilience solutions for both public and private sector clients globally.
With decades of experience and a rich heritage, NCC Group is committed to developing sustainable solutions that continue to meet client's current and future cyber security challenges.
Cautionary note regarding forward-looking statement
This announcement includes statements that are forward-looking in nature. Forward-looking statements involve known and unknown risks, assumptions, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by the Listing Rules, Disclosure and Transparency Rules and applicable law, the Group undertakes no obligation to update, revise or change any forward-looking statements to reflect events or developments occurring on or after the date such statements are published.
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