Cybersecurity outfit NCC Group’s turnover for the first half of its fiscal 2019 rose eight percent, but the outfit is a little miffed at its flat UK sales figures.
NCC’s turnover rose to £126 million. Total operating profit jumped to £9.5 million from £6.3 million during its first quarter which ended on 30 November 2018.
Its revenue growth to its US Assurance business, grew 20 percent, but its UK business only increased by 1.1 percent and contributed £43.8 million of the final figure.
NCC’s UK Escrow division reported a revenue fall of four percent to £12.9 million which was offset by growth in the US, European and rest of the world markets.
The region also saw “soft demand” in its risk management and governance business as well as a shortage of skilled technical and sales staff.
CEO Adam Palser said he believes the company can revive its UK division by making recruitment and retention of skilled staff a priority.
“We are pleased with the progress we have made, with continued growth in our core Assurance division and a particularly strong performance in the US, the world’s largest cyber market. While profits from our Escrow division fell slightly, our experience in the US has given us confidence that we can re-energise the growth of this business. We have assembled an excellent management team and are now installing the systems and processes that will enable us to operate as a unified global business, helping us to win more major contracts and focus on recurring, higher-margin work.”
The outfit expects to deliver full-year adjusted EBIT of around £34 million while its longer term growth prospects remain “excellent”.
