NCC Group plc Interim Results

Thursday, January 19, 2012 | 8:00 AM

Growing international revenues drive profits up 33%

Highlights

• Group revenue up 28% to GBP42.4m (GBP33.0m in 2010)
    o  Organic revenue up 20%
    o  International revenue now contributes 31% (21% in 2010) 
• Group adjusted operating profits from continuing operations* increased by 33% to GBP10.2m (GBP7.7m in 2010)
    o  Group Escrow operating profits up by 13% to GBP7.6m
    o  Assurance operating profits up by 87% to GBP4.6m 
• Group adjusted pre-tax profits from continuing operations** up by 32% to GBP9.8m (GBP7.4m in 2010) 
• Adjusted diluted earnings per share from continuing operations*** up by 33% to 20.2p (15.2p in 2010) 
• Interim dividend up by 23% to 5.1p (4.15p in 2010)
• Ratio of cash inflow from operating activities before interest and tax to operating profit increased to 144% (141% in 2010)
• Orders and renewals up 7% totalling GBP43.7m (GBP41.0m in November 2010) for the current financial year 
• Price increases for UK Escrow implemented in November 

* Operating profits from continuing operations before amortisation of intangible assets and exceptional items and acquisition costs.
** Profit before tax from continuing operations before amortisation of intangible assets, exceptional items and acquisition costs and unwinding of the discount on acquisitions.
*** See reconciliation below

Rob Cotton, Group Chief Executive, commented:

"A clear focus on our international growth strategy, which includes exploiting a number of growing market opportunities, has enabled us to deliver a very strong set of results with profits up 33%.  We have increased the interim dividend by 23%, to reflect both our confidence for the future as well as our recent performance.

"The cyber arms race continues to speed up, and with the technology revolution outpacing the ability of IT departments to cope with the plethora of security issues, we are well placed to maintain our growth momentum."

Enquiries:
 
NCC Group (www.nccgroup.com)         
0161 209 5432
Rob Cotton, Chief Executive
Atul Patel, Group Finance Director
 
College Hill
020 7457 2020
Adrian Duffield/Rozi Morris         

To view the Interim Results for the six months ended 30 November 2011 in full please click here.