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 its results for the 12 months ended 31 December 2019, the company reported flat EBITDA figure compared to a £600,000 loss in the prior year, while revenues rose by 10% to £5.9mln.
The group said its managed services arm reported a 48% revenue surge to £2.6mln, while recurring revenues in the division increased by 27% to £1.98mln.
ECSC also said it had secured 118 new clients for its consulting services during the year compared to 95 in 2018.
Looking ahead, the firm said its overall revenue growth for the first quarter of the year is expected to be around 9% while consulting sales in the period were up by over 15% year-on-year.
The company has also raised £500,000 to ensure that it is sufficiently well capitalised to take advantage of longer-term growth opportunities once the coronavirus situation stabilises and to strengthen its balance sheet.
ECSC has also expanded its product suite, announcing in late May the launch of its new Nebula Cloud cybersecurity breach detection service.
Nebula Cloud enables users to collect, store, and use Artificial Intelligence (AI) to analyse IT system logs and generate 24/7 alerts to potential cybersecurity breaches.
What the boss says – Ian Mann
“Whilst the current [coronavirus] situation has the potential to impact the global economy, we predict that as organisations move rapidly to remote and cloud working, there will be an increase in cybersecurity incidents, and therefore potential increases in demand for some ECSC services."
- More contracts for cybersecurity products
- New customers from Nebula Cloud
- GDPR rules are driving increased demand for cybersecurity