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NCC Group on Tuesday reported a double-digit rise in its annual revenue and a surge in profit, but it kept its final dividend unchanged.
In the financial year that ended on May 31, the Manchester-based cybersecurity firm said pretax profit doubled to £31.0 million from £14.8 million the year before, as revenue rose by 16% to £314.8 million from £270.5 million.
NCC said its acquisition of Iron Mountain's Intellectual Property Management in June last year contributed £20.2 million in revenue, delivering an overall growth in the Software Resilience division of 55% on a constant currency basis.
Operating profit doubled to £34.7 million from £17.3 million, with operating profit margin improving to 11.0% from 6.4% the year before.
‘I am pleased to report another year of strong progress in which NCC Group capitalised on accelerating demand throughout the year to achieve record revenue and profit. The integration of IPM is substantially complete and the business has already made a positive contribution to the Software Resilience division's performance, with a healthy pipeline heading into the new financial year,’ Chair Chris Stone said.
NCC left its final dividend unchanged at 3.15 pence per share. This brought its total annual dividend to 4.65p, also unchanged.
Looking ahead, NCC said it made a positive start to financial 2023 and is confident in meeting management expectations for the year.
Shares were up 0.6% at 189.60 pence each on Tuesday morning in London.
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