NCC posts pre-tax losses in 16 month results

Manchester-headquartered tech business NCC group has made a pre-tax loss of £27.5m on turnover of £429.5m for the 16 months to 30 September 2024.

However, Mike Maddison, chief executive, insisted the company has made “great progress” over the past 18 months, transforming the business by focusing on client needs while building the Group’s resilience.

He said: “Our more focused Cyber Security business returned to growth in the second half to May 2024, with improved sources of recurring revenue with Managed Services performing well, and our Escode business building a track record of growth. We are pleased to see this strategic progress coming through in improved gross margin and Adjusted EBITDA – a key priority for the Group.

“We continue to focus on our client-centric strategy and notwithstanding macroeconomic factors outside of our control, we expect to grow in the current financial year and remain confident in delivering our medium-term financial goals. An ever-increasing threat landscape, rapidly evolving technology such as AI, digital adoption and a rise in regulation across the world creates multiple growth drivers for both our Escode and Cyber businesses, and we continue to enhance our capabilities and improve our routes to market to ensure we are the go-to choice for organisations and governments as they build and enhance their cyber resilience.”