NCC Group plc Reports Consolidated Earnings Results for the Six Months Ended November 30, 2016; Announces Interim Dividend for the Six Months Ended November 30, 2016, Payable on February 24, 2017; Provides Earnings Guidance for the Second Half and Full Year Ending May 31, 2017
January 19, 2017 at 12:30 pm IST
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NCC Group plc reported consolidated earnings results for the six months ended November 30, 2016. For the period, the company reported profit attributable to equity holders of the parent company of £5,457,000 or 2.0 pence per basic and diluted share on revenues of £125,776,000 compared to profit attributable to equity holders of the parent company of £6,010,000 or 2.6 pence per diluted share on revenues of £93,508,000 a year ago. Operating profit before amortization of acquired intangibles, share based payments and exceptional items were £17,293,000 compared to £15,714,000 a year ago. Operating profit was £8,236,000 compared to £8,593,000 a year ago. Profit before taxation was £7,352,000 compared to £7,538,000 a year ago. Net cash generated from operating activities was £12,249,000 compared to £3,402,000 a year ago. Purchase of plant and equipment was £4,001,000 compared to £1,132,000 a year ago. Development expenditure was £4,361,000 compared to £4,329,000 a year ago. Group adjusted EBITDA was £21.3 million compared to £17.8 million a year ago. Adjusted basic EPS was 4.7 pence compared to 5.1 pence a year ago. Adjusted profit used for adjusted earnings per share was £12,869,000 compared to £11,823,000 a year ago. Net debt at the end of the period was, as expected, down to £48.8 million (November 2015: £73.1 million) against available facilities of £112.5 million.
For full year to 31 May 2017, adjusted EBITDA is expected to be in the range of £45.5 million to £47.5 million showing growth of up to 5% year on year.
For the second half of 2017, H1:H2 adjusted EBITDA is expected split will be approximately 46%:54% based on the midpoint of £46.5 million.
The Board of company is maintaining the interim dividend at 1.50 pence for the six months ended November 30, 2016. This will be paid on 24 February 2017 to shareholders on the register at the close of business on 27 January 2017, with an ex-dividend date of 26 January 2017.
NCC Group plc is engaged in the technology-enabled global cyber security and software escrow business. The Company leverages its collective insight and intelligence to power end-to-end cyber services that protect its clients from cyber threat. The Company's segments include Cyber Security and Escode. Its services include incident response, technical assurance, managed services, consulting and implementation, threat intelligence and Escode. Its incident response services include incident readiness, cyber incident response management and incident response recovery. Its technical assurance services include application security; network infrastructure, architecture and container security; cryptography and encryption, and cloud security services. The Company's Escode services include software escrow, software-as-a-service (saas) escrow, escrow agreements and escrow verifications. The Company's threat intelligence services include threat intelligence and online exposure monitoring.
NCC Group plc Reports Consolidated Earnings Results for the Six Months Ended November 30, 2016; Announces Interim Dividend for the Six Months Ended November 30, 2016, Payable on February 24, 2017; Provides Earnings Guidance for the Second Half and Full Year Ending May 31, 2017