LONDON (Alliance News) - ECSC Group PLC on Wednesday expressed confidence for the year ahead as its loss narrowed in 2018 on strong revenue growth.
The cyber security services provider said pretax loss narrowed to GBP1.3 million in 2018 compared to GBP3.6 million reported a year earlier, as revenue rose by 35% to GBP5.4 million from GBP4.0 million.
On a divisional basis, revenue in the Consulting unit grew by 27% to GBP3.1 million, driven by significant new client wins, while revenue in the Managed Services division jumped by 56% to GBP1.8 million. In addition, the Vendor Products revenue in the year grew by 36% to GBP230,000.
"We are delighted to report such strong organic growth for the full year, well ahead of the previous year," said Chief Executive Ian Mann.
"We believe we are well positioned to build on the strong organic growth achieved in 2018 and we look forward to the future with confidence," added Mann.
ESCS shares were trading 1.3% higher on Wednesday at 114.00 pence each.
