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ECSC hails record trading in the second half of 2019

New client wins rose 24% in 2019 to 118, with 17% of those generated from ECSC's partner programme

ECSC Group PLC -

ECSC Group PLC (LON:ECSC), the provider of cyber-security services, returned to underlying profitability in the second half of last year.

In a brief trading update covering 2019, the group 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.

"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,” said Ian Mann, chief executive of ECSC.

“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. The acceleration of new client acquisitions in 2019 should help to build a solid foundation for future growth," he added.

Quick facts: ECSC Group PLC

Price: 67.5 GBX

LSE:ECSC
Market: LSE
Market Cap: £6.76 m
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