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."
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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.
