What ECSC does
ECSC Group PLC (LON:ECSC) is one of the UK’s longest-running providers of cybersecurity services. Established in 2000, ECSC specialises in 24/7 security breach detection and artificial intelligence (AI).
The company’s services range from security management and consultancy to testing services which uncover vulnerabilities and technology labs that develop new solutions.
How it's doing
In January, a brief trading update covering 2019 revealed it was cash generative in the second half of the year with positive adjusted underlying earnings (EBITDA) of around £200,000.
Revenue rose 10% year-on-year to about £5.9mln with managed services recurring revenue growing more than 25%.
The year-end cash balance stood at £0.35mln, with an unused bank facility of £0.5mln and debtors of £1mln.
What the boss says – Ian Mann
"We are very pleased that the record trading in H2 resulted in double-digit organic annual revenue growth and a return to adjusted EBITDA profitability.
“Growth in recurring revenue of over 25% shows the effectiveness of our strategy of winning consulting clients and converting them into long-term managed services clients.
- In March, ECSC secured two major managed service contracts with a combined revenue value of over £590,000
- Company recently won five new contracts worth £750,000 in total
- The largest contract uses its always-on Kepler Artificial Intelligence
- GDPR rules are driving increased demand for cybersecurity