Bradford’s ECSC Group sees ‘strong organic revenue growth’ since IPO
ECSC Group plc, the provider of cyber security services, has released its first full year results since its IPO in December 2016.
For the 15 months ending in December 2016, the company’s revenue hit £4.51m, compared to £2.65m during the 12 months in 2015.
During the same 15-month period, adjusted pre-tax profit slightly increased to £458k, compared to £455k the previous year.
As well as being admitted to the AIM section of the stock exchange, ECSC Group also saw ‘strong organic revenue growth’ all operating divisions. The company’s Managed Services saw like-for-like revenue grow by 35%, whereas its Consultancy division reported a like-for-like revenue growth of 24%.
The company has also created a new vendor sales division.
In addition, ECSC increased its workforce from 57 to 98 as of 20th March, and has launched a new Leeds facility along with its Bradford security operations centre. The company plans to open Australian and London facilities in Summer 2017.
Ian Mann, CEO of ECSC, commented: “I am delighted with the progress of the business throughout 2016, a year in which we not only successfully admitted the Company to AIM but also achieved strong organic revenue growth across all parts of the Company.
“I am particularly pleased with the performance of the business given that we have invested significantly in scaling the business during the year and have expensed most of these costs.
“Our strong organic growth coupled with the proceeds from the IPO will enable us to deliver on our accelerated growth plan to significantly scale the business to satisfy the strong market demand for our products and services and build on our track record as a proven, premium quality provider of cyber security services with a blue-chip client base.
“I am pleased with the progress we have made to date in regard to our organic growth strategy. We are mindful of the degree of change being implemented within the business and we are approaching these significant scale changes with appropriate care and attention.
“We look forward to 2017 as we continue to transform ECSC into a substantial cyber and information security services provider.”
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