Half-year gross profits top £46.6m for NCC

Cyber security

Manchester-based global cyber security and risk mitigation group has seen half-year gross profits rise 14.8% to £46.6m.

A month new chief executive Adam Palser took control, the company has reported revenue to November 30 has also risen 7% to £118.2m.

The company says it has benefited from initiatives underway in a group-wide change programme designed to improve the effectiveness and efficiency of internal business processes such as resource scheduling and working capital management.

During the period the company spent £3.7m moving to its new headquarters at the XYZ building in Spinningfields.

NCC sais in the second half of the year, the combination of further gross margin gains and continuing organic revenue growth will offset remaining committed cost increases to deliver full-year adjusted operating profit in line with the board’s current expectations.

Chairman Chris Stone said: “Strong organic revenue growth in our core assurance businesses continues to drive positive momentum in the business.

The combination with gross margin gains flowing from improved realisation has delivered a significant recovery from the low point of the second half of the prior year.

“Many of the projects and recruitment plans that were committed in the prior year to support growth are largely complete. Our opportunity now is to deliver operational leverage gains driven by further organic growth and gross margin improvements while controlling any further increase in overheads.

“Our customers continue to see significant value in our service offerings. We are starting to promote attractive business lines across the wider NCC Group network.

“The business remains well placed to take advantage of the continued growth and importance of independent cyber security and business risk mitigation markets.”

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