NCC Group PLC Change to Full Year Results Announcement Date
RNS Number : 6738G
NCC Group PLC
28 July 2021
28 July 2021
NCC Group plc
Change to full year results announcement date
NCC Group plc, (LSE: NCC, "NCC Group" or "the Group"), the
leading independent global cyber security and resilience advisor,
announces that its preliminary results for the financial year ended
31 May 2021 will now take place on Tuesday, 14 September 2021.
From a trading perspective, the Group's outlook remains
unchanged and we are focused on seizing the opportunities presented
by our growing cybersecurity and resilience markets.
At the end of April 2021, the IFRS Interpretations Committee
(IFRIC) published new accounting guidance on the treatment of
configuration and customisation costs in Cloud computing
The practical application of the guidance is still being
considered by companies reporting under IFRS, with many considering
enhanced disclosure in advance of any adjustments in future
periods. While our intention was to provide enhanced disclosure
with implementation in the period ended 30 November 2021 (H1 FY22),
our auditors have advised us of the requirement to implement this
guidance for the year ended 31 May 2021.
Initial expectations indicate that the non-cash impact of this
new treatment will also affect the years ended 31 May 2019 and 31
May 2020 which were prepared and audited under previous IFRS
guidance. Any changes to these prior years will simply reflect the
recent clarification in IFRS guidance.
The Group has capitalised software and development costs
amounting to GBP6.4m, GBP10.4m and GBP7.4m for the years ended 31
May 2019, 31 May 2020 and 31 May 2021 respectively. This mainly
includes costs of our multi-year transformation programme, Securing
Growth Together, which commenced in 2019. It is expected that a
majority of these costs will now require review in light of the new
IFRS guidance, together with the resultant amortisation previously
recognised to the income statement. This is likely to result in a
prior year adjustment on a retrospective basis with the net
non-cash impact being classified as an adjusting item. The
consequential non-cash impact on the current year ending 31 May
2022 is expected to be neutral or a small net benefit to Adjusted
NCC Group +44 (0)161 2095432
Adam Palser, CEO
Tim Kowalski, CFO
Maitland AMO +44 (0)207 3795151
About NCC Group
NCC Group exists to make the world safer and more secure.
As global experts in cyber security and risk mitigation, NCC
Group is trusted by over 14,000 customers worldwide to protect
their most critical assets from the ever-changing threat
With the company's knowledge, experience, and global footprint,
it is best placed to help organisations assess, develop and manage
their cyber resilience posture.
To support its mission, NCC Group continually invests in
research and innovation, and is passionate about developing the
next generation of cyber scientists.
With circa 2,000 colleagues in 12 countries, NCC Group has a
significant market presence in North America, Europe and the UK,
and a rapidly growing footprint in Asia Pacific with offices in
Australia, Japan and Singapore.
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(END) Dow Jones Newswires
July 28, 2021 02:00 ET (06:00 GMT)
Gráfica de Acción Histórica
De Sep 2021 a Oct 2021
Gráfica de Acción Histórica
De Oct 2020 a Oct 2021