NCC upgrades forecasts as cyber business grows
British tech firm NCC said it will report a better than expected quarterly trading performance after a strong performance from its core cybersecurity business.
In the four months ending 30 September, NCC forecast overall revenue to be around £100m with adjusted operating profit of about £3.5m, compared to £1m and an adjusted operating loss in the year before.
Due to better-than-expected performance in its cybersecurity division, it now expects overall revenue to come in at nearer £104m, representing roughly four per cent year on year growth, and adjusted operating profit of around £6m.
The London-listed company, which assesses and manages cyber threats for clients such as tech firms, financial institutions and governments, will publish its audited results on 10 December 2024.
NCC chief executive Mike Maddison said: “We have seen the benefit to gross margin from the actions we took over 12 months ago to align our global delivery and operational headcount.
“We continue to simplify our business, aligning ourselves to our client needs in a competitive marketplace, to generate profitable revenue growth and sustainable gross margins.
“Our transformation journey is ongoing, and we continue to build out our core Cyber Security capabilities and our separate Escode re-branded business, which both provide future growth opportunities to continue to enhance shareholder value,” he added.
The stock rose nearly 11 per cent on Wednesday and has climbed over 34 per cent year to date.