ECSC sales rise, loss narrows on higher cybersecurity demand

(Alliance News) - ECSC Group PLC on Wednesday reported growing sales and a slightly narrowed loss in the first half of 2021, as the cybersecurity company dealt with a rise in incidents as people work from home.

Revenue increased 15% year-on-year to GBP3.0 million from GBP2.6 million. The company's pretax loss narrowed to GBP302,000 from GBP340,000.

Shares were down 5.3% to 85.67 pence in London on Wednesday morning. They're up 27% year-to-date.

ECSC said growth was strong in both of its divisions - Managed Detection & Response, which responds to clients' cybersecurity threats, and Assurance, which provides testing and certification.

But the Bradford-based company, which operates in the UK and Australia, continued to lose money because of sales, marketing and administrative expenses. A review of ECSC's client acquisition strategy and operations is ongoing.

"ECSC is well positioned in a growing market, and we look forward with confidence to continuing to deliver improved operating results," Chair David Mathewson said.

By Ivan Edwards; ivanedwards@alliancenews.com

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