NCC Group PLC Trading Update and Notice of Final Results (7424B)
11 Junio 2019 - 1:00AM
UK Regulatory
TIDMNCC
RNS Number : 7424B
NCC Group PLC
11 June 2019
11 June 2019
NCC Group plc
Trading Update and Notice of Final Results
NCC Group plc, (LSE: NCC, "NCC Group" or "the Group"), the
leading independent global cyber security and risk mitigation
expert, is pleased to provide the following update in advance of
publishing its preliminary results for the year ending 31 May
2019.
Trading Update
The Board expects to deliver full year results in line with
current market expectations. We are also pleased to report that the
Group is making good progress on its transformation programme,
'Securing Growth Together'.
Revenue in the Assurance division continues to grow at similar
rates to those delivered in the first half of the year and global
headcount in the technical teams is now at the levels needed to
satisfy future demand. While sales in the Escrow division have
decreased slightly over the year in the UK, a focus on recruitment
means that the UK sales team enters the new financial year at full
strength. We have launched our new "Escrow-as-a-Service" product
recently, aimed at the fast-growing Cloud software market and have
been encouraged by the initial customer response.
A strong focus on cash management has resulted in net debt at
the year-end falling to c.GBP21m. This means net debt has more than
halved when compared to the GBP45.1m reported in our Half Year
results and is well below the prior year closing figure of
GBP27.8m.
We have further strengthened our financial position by renewing
our existing revolving credit facility to GBP100m with a new five
year term up to June 2024 on similar terms to our current
arrangements. The existing arrangements were due to expire in
November 2020.
Our comprehensive systems upgrade programme continues on time
and within budget. Salesforce, our new CRM system has just been
launched in the UK and Europe and 7 out of the 9 remaining new
systems are now operational in the UK and other territories, with
the remainder due to roll out progressively over the next financial
year.
Notice of Final Results
The Group expects to report its preliminary results for the year
to 31 May 2019, on 25 July 2019.
11 June 2019
Enquiries:
NCC Group ( www.nccgroup.com ) +44 (0)161 209 5432
Adam Palser, CEO
Tim Kowalski, CFO
Maitland AMO
Neil Bennett / Al Loehnis +44 (0)20 7379 5151
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END
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