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Long term growth targets at NCC Group

NCC Group

Global cyber security group, NCC, says its expecting to report operating profits of £31m.

The Manchester-based company released a Trading Update this morning showing a mixed pictures across its divisions.

It said like for like revenues are expected to have declined by around 1%, falling to £324m.

Across its departments, Cyber Security income is up 6% in the second half of 2024, this follows a drop of 9.6% in the first 6 months of the year. 

Managed Services, however, has increased 36%, while Technical Assurance Services has fallen by 23% “with the recovery in demand less consistent than expected.”

Escode, its software escrow business saw revenue rise around 5%, which would be 7 consecutive quarters of year-on-year growth.

“We have delivered a second-half financial performance ahead of our Adjusted Operating Profit expectations and continued to transform the business on many fronts,” said CEO, Mike Maddison.

“We remain confident in our ability to create sustainable long-term revenue growth, our financial resilience and continue to improve shareholder value. It is exciting to see Managed Services continue to grow, which is central to our Cyber strategy, and Escode continue to experience consecutive revenue growth alongside its new brand launch early in the year.”

The results are for 16 months, following its change in year end from 31st May to 30 September.

The Group expects to report its unaudited results for the 12 months ended 31 May 2024, on 1 August 2024. The audited results for the 16 months ending 30 September 2024 will be presented on 10 December 2024.

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