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ECSC Group sees strong rebound as coronavirus restrictions ease

Snapshot

  • Provider of cybersecurity services
  • Services include security management, consultancy and testing
  • Swing to positive earnings in first half of 2020
Cybersecurity

Quick facts: ECSC Group PLC

Price: 72.5 GBX

LSE:ECSC
Market: LSE
Market Cap: £7.26 m
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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 November, ECSC said third-quarter adjusted underlying earnings were exceeding £50,000 a month. 

The group also said its revenue for the quarter had exceeded the average quarterly revenue seen in 2019, with Managed Detection and Response (MDR) recurring revenue up 22% compared with the same quarter of 2019.

In a sign of growing confidence, the group added that it has resumed recruitment in Security Operations Centres, partner and MDR sales and consultants to meet growing demand.

For the half-year to June, the group swung to an underlying profit of £52,000, from a £184,000 loss in the prior year,

What the boss says – Ian Mann

"We are pleased to announce continued positive momentum in revenue and adjusted EBITDA for Q3. ECSC is securing major contracts, adding partners to drive commercial opportunities and resuming recruitment, which demonstrates the resilience and strength of our business model in these challenging times.” 

CEO Interview

 

Inflexion points

  • More contracts for cybersecurity products
  • New customers from Nebula Cloud
  • GDPR rules are driving increased demand for cybersecurity

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