NCC revenue up to £58.5m

IT security specialist NCC Group has enjoyed a 48% increase in revenue to £58.5m in the four months to September 30 compared to the same period last year (September 2014: £39.5m).

The listed Manchester company said both the Escrow and Assurance Divisions showed strong organic revenue growth – up 8% and 19% respectively.

The integration of AIM-listed Accumuli, which NCC acquired in a £55m deal in March, is now largely completed, ahead of schedule, with the Group already benefiting both operationally and financially, it said.

Domain Services recorded a 60% increase in organic revenue from a low base, driven by its managed service capabilities.

NCC chief executive Rob Cotton said:“Our cash generative Escrow business saw a notably strong first four months, traditionally its weakest trading period, whilst the Assurance Division continued to show impressive double digit organic growth, driven by a growing market and our increasing capabilities.
 
“The integration of Accumuli, acquired in May 2015, is almost complete with the Group gaining both operational and financial synergies.

“The delays in the domain services markets are frustrating but our strategy remains sound. In only a few years there will be thousands of new domains, which brand owners and corporate entities as well as government bodies will need to manage – we have all the capabilities to address all of their requirements.

“We remain on course to sustain our double digit organic growth and strong cash generation and are set to meet our expectations for the financial year to May 31 2016.”

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