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4 Nov 2020 07:00
4 November 2020
ECSC Group plc
('ECSC' or the 'Company' or the 'Group')
Trading Update
Continued strong revenue and profit growth
ECSC Group plc (AIM: ECSC), the provider of cyber security services, is pleased to announce an update on trading for the four months since the interim period end of June 2020.
Highlights
· Group revenue for Q3 2020 has exceeded the average quarterly revenue for 2019, with Managed Detection and Response (MDR) recurring revenue up 22% compared with Q3 2019
· Adjusted EBITDA* profit exceeding £50k per month
· New major contract wins for MDR as previously announced, representing a significant proportion of the MDR order book
· Continued recruitment of sales partners with 16 new partners added (totalling 136 partners since the programme was launched in January 2019) generating 14 new sales opportunities in Q3
· Resumed recruitment in Security Operations Centres, partner and MDR sales and consultants to meet growing demand
· Record attendance at new webinar cyber security events, with over two-thirds of attendees being non-clients
*Adjusted EBITDA excludes one-off charges and share based charges. EBITDA is defined as Earnings before Interest, Tax, Depreciation and Amortisation.
Ian Mann, Chief Executive Officer of ECSC, commented:
"We are pleased to announce continued positive momentum in revenue and Adjusted EBITDA for Q3. ECSC is securing major contracts, adding partners to drive commercial opportunities and resuming recruitment, which demonstrates the resilience and strength of our business model in these challenging times.
"We believe the Group is well positioned to continue to deliver quality services meeting growing demand from existing and potential clients despite continuing COVID-19 related regional lockdowns."
- 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 / Asha Chotai (Corporate Finance)Tony Quirke (Equity Sales) | +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/
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