Cyber security group locks onto ‘organic growth’ as revenue hits £5.4m
ECSC, the Bradford-based cyber-security group, has reported “such strong organic growth” in a trading update for the 12 months ending 31 December.
During this period, the listed firm saw overall revenues rise by 30% to £5.4m. This was supported by a 50% boost in revenue for its Managed Services and a 25% rise for ECSC’s Consulting Services.
ECSC also secured a total of 95 new consulting clients in 2018, which the company said will help “build a solid base for ongoing growth.”
Due to record levels of trading in Q4, and associated working capital requirements, ECSC reported a final cash balance of £650,000, with debtors of £869,000.
Ian Mann, CEO of ECSC, said: “We are delighted to report such strong organic growth for the full year, and moving back into profit, with continued emphasis on our Managed Services recurring revenue.
“The team continues to acquire new clients, deliver quality service, and build a solid base for ongoing growth.”
David Mathewson, non-executive chairman, added: “The performance reflects a focussed and motivated team delivering strong growth, whilst keeping tight control over costs and cash management.
“Our programme of cost reductions in late 2017 and early 2018 improved our efficiency, whilst maintaining our service quality and growth capability.”
