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Share Name Share Symbol Market Type Share ISIN Share Description
Ncc Group Plc LSE:NCC London Ordinary Share GB00B01QGK86 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 0.64% 314.00 313.00 314.50 317.00 310.50 310.50 35,275 10:22:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 263.7 16.1 4.2 74.8 970

NCC Group PLC Trading update and Notice of Final Results

17/06/2021 7:00am

UK Regulatory (RNS & others)


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RNS Number : 1588C

NCC Group PLC

17 June 2021

17 June 2021

NCC Group plc

Trading update and Notice of Final Results

NCC Group plc, (LSE: NCC, "NCC Group" or "the Group"), the leading independent global cyber security and resilience advisor, is pleased to provide the following update in advance of publishing its preliminary results for the year ended 31 May 2021 (FY21).

The Board expects revenue for FY21 to be slightly ahead of the prior year and for Adjusted EBIT (subject to audit) to be towards the higher end of consensus expectations (1) , owing to better than expected trading towards the end of the year.

For the current financial year (FY22), the Board expects higher revenue growth accompanied by increased global costs from inflationary pressures as well as a resumption in travel and office usage.

The Group has maintained its cash management discipline which has resulted in Net Cash (2) as at 31 May 2021 of c.GBP83m (May 2020: Net Debt GBP4.2m, November 2020: Net Cash GBP3.0m). This figure includes the net placing proceeds of GBP70.7m to part fund the acquisition of IPM (3) for $220m which completed on 7 June 2021.

Following the recent acquisition of the IPM business, the Group will now report constant currency performance metrics to enable a greater understanding of the Group's segmental performance.

The Group expects to report its preliminary results for the year ended 31 May 2021, on 5 August 2021. Management will host a presentation and Q&A session, details of which will be circulated ahead of the event.

Adam Palser , Chief Executive Officer, commented:

"The skill and determination of my colleagues in NCC Group have resulted in an excellent trading performance given the background of a global pandemic. I would like to thank them all for their contribution.

It is a pleasure to welcome our new team from the recent acquisition of Iron Mountain's IPM division. Joining forces transforms our Software Resilience business, making it a market leader, and we look forward with confidence to the future.

We will continue to invest in organic and inorganic growth opportunities, building on the strong foundations that we have put in place over the last three years to seize the opportunities presented by the ascendance of cybersecurity as a top priority for businesses globally."

Notes:

(1) As outlined within the Consensus Forecasts 2021/22 as of 10 June 2021 that is available at www.nccgroupplc.com/investor-relations/results-media/ . Adjusted EBIT consensus range amounts to GBP33.7m to GBP36.2m (2) .

(2) On a Pre-IFRS 16 basis.

(3) To partially fund the acquisition of the Intellectual Property Management business (the "IPM Business") of Iron Mountain Inc. ("Iron Mountain"), comprising substantially all of the assets of Iron Mountain Intellectual Property Management, Inc. together with certain other assets of affiliates of Iron Mountain exclusively related to the IPM Business.

Enquiries

   NCC Group                                         +44 (0)161 2095432 

Adam Palser, CEO

Tim Kowalski, CFO

   Maitland AMO                                     +44 (0)207 3795151 

Neil Bennett

Sam Cartwright

About NCC Group

NCC Group exists to make the world safer and more secure.

As the leading independent global cyber security and resilience advisor, NCC Group is trusted by over 15,000 clients worldwide to protect their most critical assets from the ever-changing threat landscape.

With the company's knowledge, experience and global footprint, it is best placed to help businesses identify, assess, mitigate and respond to the evolving cyber risks they face.

To support its mission, NCC Group continually invests in research and innovation, and is passionate about developing the next generation of cyber scientists.

With over 2,000 colleagues in 12 countries, NCC Group has a significant market presence in North America, continental Europe and the UK, and a rapidly growing footprint in Asia Pacific with offices in Australia, Japan and Singapore.

www.nccgroup.com

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June 17, 2021 02:00 ET (06:00 GMT)

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