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ECSC surges as three contract wins underpin revenue expectations for 2019

The largest of the three contracts is to provide 24/7/365 cyber-security monitoring and breach detection. The solution uses ECSC's proprietary Kepler Artificial Intelligence
Cyber-security
Two of the three contracts are new managed service contracts for existing consultancy service clients

ECSC Group PLC (LON:ECSC) shares jumped higher on Tuesday as the provider of cybersecurity services revealed that it has bagged three managed services contract wins.

The AIM-listed firm said two of the contracts are with household name retailers (with a combined revenue of more than £2.5bn) and the other is with a technology services provider.

READ Cyber security firm ECSC Group wins £300,000 contract with major food producer

The company said the contracts would generate more than £400,000 in revenue over a three- year period, representing an increase of more than 15% to the Managed Services order book.

"We are delighted to add two new significant long-term Managed Services clients, and further expand our engagement with an existing client supporting a new technology project. These contract wins demonstrate the effectiveness of our client acquisition strategy, delivering effective Consulting, leading to long-term recurring revenues through Managed Services," ECSC’s chief executive officer, Ian Mann said.

In afternoon trading, shares in ECSC were over 12% higher at 92.50p.

 -- Updates share price --

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