NCC Group PLC AGM Trading Statement (1291V)
30 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMNCC
RNS Number : 1291V
NCC Group PLC
30 November 2023
30 November 2023
NCC Group plc
AGM Trading Statement
NCC Group plc, a people-powered, tech enabled global cyber
security and software escrow business, will hold its Annual General
Meeting today at 9.00am at the Company's Head Office, XYZ Building,
2 Hardman Boulevard, Spinningfields, Manchester, M3 3AQ.
Ahead of this, the Board is publishing an update on current
trading.
The Group is trading in line with management expectations in the
first half and management expectations for the full year remain
unchanged.
Within our Cyber business, Managed Services revenue has
continued to grow strongly whilst revenue in Technical Assurance
has remained stable since the reductions seen in H2 FY23. As
planned, utilisation has improved in the first half which has
contributed to an improvement in the gross margin percentage.
Escode - our software resilience (Escrow) business has delivered
another two consecutive quarters of underlying year on year revenue
growth driven by increased verification revenues and contract
pricing increases.
Delivery of GBP5m Group cost efficiencies for FY24 highlighted
in September are being realised ahead of schedule and net debt
(exc. IFRS 16) has remained in line with management expectations at
the half year.
Progress continues with our Next Chapter strategy. Notably,
since September, we announced the appointment of Carolyn Hieken, as
Chief Commercial Officer, based in the US. Carolyn brings over 20
years of technology and cyber security sales leadership experience
and completes the formation of our Executive Committee. In
addition, as part of our focus on strategic alliances, a new
partnership has been established with TransUnion to provide cyber
protection to insurance customers at scale globally. Our Manila
office is now operational with an official opening in January
2024.
The Group will now report its half-year results for the six
months to 30 November 2023 on 25 January 2024 rather than 1
February 2024, which was previously announced.
Mike Maddison, CEO, commented:
"I'm delighted to have completed the formation of the new
Executive leadership - a team which has deep experience operating
within the cyber security industry. We are continuing to make good
progress on all aspects of our Next Chapter strategy, and our
trading and outlook are in line with the expectations outlined in
September 2023."
Enquiries:
NCC Group ( www.nccgroupplc.com ) +44 (0)7824 412 405
Yvonne Harley
H/Advisors Maitland +44 (0)20 7379 5151
Sam Cartwright
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 for over 14,000 clients
across the public and private sector globally.
With decades of experience and a rich heritage, NCC Group is
committed to developing sustainable solutions that continue to meet
clients' current and future cyber security challenges.
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END
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November 30, 2023 02:00 ET (07:00 GMT)
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