NCC Group expecting to surpass revenue expectations for FY21

Company puts improvements down to 'better than expected trading towards the end of the year'

NCC Group says it is expecting "higher revenue growth" for FY21 in a recent trading update.

The cybersecurity provider predicts revenue for the year to be "slightly ahead of the prior year" and adjusted EBIT to be "towards the higher end of consensus expectations".

NCC puts this down to "better than expected trading towards the end of the year" but warns that the revenue growth will be "accompanied by increased global costs from inflationary pressures as well as a resumption in travel and office usage".

The firm also says it has "maintained its cash management discipline" resulting in net cash of around £83m as of 31 May.

"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," said Adam Palser, CEO.

"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."