NCC’s new division launch hit by delays

MANCHESTER IT security firm NCC Group has had to push back the launch of its new domain services business.

The firm plans to offer new services through its recently acquired “top level” domain, “.trust” and had hoped to launch the service this month after investing £6.4m.

In an interim management statement covering the first four months of its financial year from June to September, NCC said the process of assigning the domain from the Internet Corporation for Assigned Names and Numbers (ICANN) had taken longer and been more complicated than expected, and the service will now not be ready until March.

Elsewhere the business has seen strong growth, with overall revenues climbing 20% to £39.5m. International operations have continued to prosper and now account for 40% of all sales.

NCC provides software insurance services in its escrow arm where it allows companies to protect against the collapse of a software developer by holding vital information, such as the software source codes. It also operates an assurance business which protects IT systems from hackers. Revenues were up 6% in the escrow arm, while assurance reported a 16% lift. The group’s security consultancy saw sales grow by 31%.

Chief executive Rob Cotton said: “We have performed well in our traditionally quietest period with strong recurring revenues and good forward visibility. Even though it is still early in the year, we are confident that we will maintain our double digit growth, strong cash generation and will meet our expectations for the financial year to May 31, 2015.

“The roll-out of our domain services has been held back by delays in the assignment process for .trust. We now expect this unique service providing organisations with safer Internet to go live early in the new calendar year.”