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ECSC Group PLC (ECSC)

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Tuesday 22 January, 2019

ECSC Group PLC

Trading Update

RNS Number : 6964N
ECSC Group PLC
22 January 2019
 

22 January 2019

 

ECSC Group plc
("ECSC" or the "Company" or the "Group")

Trading Update

for the 12 months ended 31 December 2018

Delivering over 30% cyber security organic growth

 

ECSC (AIM: ECSC), the provider of cyber security services, is pleased to announce a trading update for the 2018 financial year, comfortably in line with market expectations, delivering:

·      Revenue growth of over 30% to circa £5.4m*

·      Managed Services revenue growth in excess of 50%

·      Consulting Services revenue growth in excess of 25%

·      Profitable trading in Q4 2018, contributing to improving financial performance comfortably in line with market expectations

·      Continued long-term Managed Service wins utilising the ECSC proprietary Kepler
Artificial Intelligence technology

·      95 new Consulting clients secured

·      Due to record levels of trading in Q4, and associated working capital requirements, final cash balance was £650,000*, with debtors of £869,000*

* Unaudited figures

 

Ian Mann, CEO of ECSC, commented:

"We are delighted to report such strong organic growth for the full year, and moving back into profit, with continued emphasis on our Managed Services recurring revenue. The team continues to acquire new clients, deliver quality service, and build a solid base for ongoing growth."

 

David Mathewson, Non-Executive Chairman, commented:

"The performance reflects a focussed and motivated team delivering strong growth, whilst keeping tight control over costs and cash management.

Our programme of cost reductions in late 2017 and early 2018 improved our efficiency, whilst maintaining our service quality and growth capability."

 

Enquiries:

ECSC Group plc
David Mathewson (Non-Executive Chairman)
Ian Mann (Chief Executive Officer)

+44 (0) 1274 736 223

Allenby Capital (NOMAD and Broker)
David Hart
Nicholas Chambers

+44 (0) 203 3285 656

Alma PR (Financial PR)
Josh Royston
Hilary Buchanan
Susie Hudson

+44 (0) 203 4050 205

For more information please visit the following: https://investor.ecsc.co.uk/


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