Proactive Investors - Run By Investors For Investors

ECSC revenues surge as companies beef up cyber defences

ECSC’s consultancy arm added 95 new customers over the year
Manged services revenues jumped 56%

ECSC Group PLC (LON:ECSC) increased annual revenues by 35% as rising demand for cybersecurity meant a big jump in the number of consultancy customers.

Turnover in 2018 at the cybersecurity specialist rose to £5.4mln from £4mln with underlying losses reduced to £0.6mln from £2.9mln.

ECSC’s consultancy arm added 95 new customers over the year as companies strengthened their cyber defences to avoid heavy fines under the new GDPR rules.

Organic growth

The long-term model is to convert consultancy customers to 24/7 monitoring by ECSC’s managed services arm.

Managed services sales rose by 56% to £1.7mln over the year compared to 27% growth in consulting.

“We are delighted to report such strong organic growth for the full year, well ahead of the previous year, with continued emphasis on building our Managed Services recurring revenue supported by our Consultancy Services, said Ian Mann, chief executive.

Shares rose 2% to 115p.

View full ECSC profile View Profile

ECSC Group PLC Timeline

Related Articles

Apps on a smartphone
December 17 2018
“While this year our focus has very much been about developing our product, in the coming year the primary objective will be to increase revenues and margins,” chief executive Philip Marcella said
Mobile payments
February 15 2019
The firm works with tech giants such as Google, Amazon, and Microsoft to help them process payments from their mobile customers across their app stores
mobile payment
June 22 2018
MySQUAR wants to beef up the mobile payments side of its operations in anticipation of a surge in demand for those services in a country where only 20% of the adult population have a bank account

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use