13 Jul 2021 07:00
13 July 2021
ECSC Group plc
('ECSC' or the 'Company' or the 'Group')
Trading Update, Notice of Results and Board Change
Strong growth in Assurance and MDR divisions
ECSC (AIM: ECSC), the provider of cyber security services, is pleased to announce a trading update for the six months ended 30 June 2021.
Highlights*:
· Managed Detection and Response (MDR) revenue up 17% to £1.45m (H1 2020: £1.24m)
· Assurance revenue up 20% to £1.49m (H1 2020: £1.24m)
· Group revenue up 15% to £3.01m (H1 2020: £2.61m)
· Cash of £591k at period end - including £142k of Covid-19 related government support (30 June 2020: £1.26m - including £0.77m of Covid-19 support). The Group's bank facility of £0.5m remains unutilised.
* All figures unaudited
Final results for the period will be announced on Wednesday, 22 September 2021.
The Company also announces that, after overcoming a recent health condition, Ian Castle has decided to step down from the Board with immediate effect. Ian will continue his role as Chief Technology Officer on a part-time basis.
Ian Mann, Chief Executive Officer of ECSC, commented:
"We are pleased to report that ECSC's momentum has continued into the first half of this year, with strong growth across both our MDR and Assurance divisions, owing in part to our focus on converting increasing numbers of Assurance clients and those with incident response retainers to long-term MDR clients.
"Following the relatively short-term impact of Covid-19 in 2020, the teams have adapted well to new ways of working within both our sales and delivery functions, and the Group is well positioned to maximise opportunities in a recovering economy.
"On behalf of the Board, I would like to thank Ian Castle for his commitment and look forward to his continuing contribution to the Company."
- Ends -
Enquiries:
ECSC Group plcDavid Mathewson (Non-Executive Chairman)Ian Mann (Chief Executive Officer) | +44 (0) 1274 736 223 |
Allenby Capital Limited (NOMAD and Broker)David Hart / Piers Shimwell (Corporate Finance)Tony Quirke (Equity Sales and Corporate Broking) | +44 (0) 203 3285 656 |
Yellow Jersey (PR and IR)Sarah Hollins Annabel Atkins Matthew McHale | +44 (0) 203 004 9512
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Notes to Editors:
Founded in 2000, ECSC Group plc (AIM: ECSC) is the UK's longest running full-service cyber security service provider. With an extensive range of in-house developed proprietary technologies, including advanced Artificial Intelligence (AI) systems, ECSC provides expert security breach prevention and advisory support to organisations across all sectors.
ECSC operates from two Security Operations Centres (SOCs): one in Yorkshire, UK, and the other in Brisbane, Australia. ECSC offers flexible 24/7/365 cyber security monitoring, detection, and response support to its clients, either as a fully managed service or to enhance an organisation's existing cyber security systems. In addition, ECSC's Assurance division provides guidance, certification to industry standards, and extensive testing services to allow organisations to assess their cyber security protection.
ECSC is led by a highly experienced senior management team with over 80 years' combined experience within the company, and has delivered consecutive organic growth for the last 20 years.
The Company's broad client base ranges from e-commerce start-ups to global blue-chip organisations, including 10% of the FTSE 100.
For more information please visit the following: https://investor.ecsc.co.uk/