(Alliance News) - ECSC Group PLC on Wednesday expressed a positive outlook for the reminder of the year as its Consulting Services division recovered following a weak first-half performance.
The cyber security services provider said its pretax loss narrowed to GBP558,000 in the six months to the end of June compared to GBP795,000 reported a year earlier, while revenue remained broadly unchanged at GBP2.6 million.
During the period, ECSC said it has secured 59 new consulting clients, up 18% on the prior year.
By division, the Managed Services unit revenue was up 63% in the first half to GBP1.2 million, while the Consulting Services division revenue was down 23% to GBP1.2 million.
"We are pleased that from the start of the second half, the previously reported reduced level of consulting services demand has now been reversed, with consulting growth recovering strongly to match the continued growth in managed services recurring revenue and cyber incident response service," said Chief Executive Ian Mann.
"Since period end, the return to profit, positive cash flow, and strong third and fourth quarters outlook are testament to the continued improvements across the business," added Non-Executive Chair David Mathewson.
ECSC shares were trading 10% higher on Wednesday in London at 80.10 pence each, having earlier traded as high as 89.50p.