NCC Group PLC Trading update and Notice of Final Results (1588C)
June 17 2021 - 2:00AM
UK Regulatory
TIDMNCC
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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