NCC off to a good start
NCC Group, the international IT assurance and security company has reported a strong start to its new financial year, with revenues up 7% to £29.6m.
The Manchester company, which has a growing US presence having made a number of acquisitions there, last week saw its share price hit a record of 1018p, giving it a market value of more than £350m. The price has this week dropped back to 980p at close of trading on Wednesday.
Commenting on trading, chief executive Rob Cotton said: “We have continued to trade well, in our traditionally quietest quarter and are on course to deliver strong levels of growth and profitability, in line with our expectations for the financial year to May 31 2013.
“The two acquisitions completed during the summer in New York have further widened and strengthened our US information security capability. With our Escrow business showing solid growth and the continued strong demand for all aspects of information security, we remain well positioned to maintain our long term, sustained growth.”
The latest additions to NCC, Matasano and Intrepidus, acquired on August 2 and August 20 are in the process of being integrated into the group. Both businesses have “already made very good progress in areas of research and development,” NCC added.
NCC said is Assurance division’s overall combined order book and renewals base currently stands at £26.7m, compared with £23.5m in October 2011
