In a trading update for the six months ended June 30, 2020, the cybersecurity group reported the turnaround from a £184,000 loss in the prior year, while its recurring revenue figure rose by 25% to £1.17mln.
The company’s managed services order book also rose to £2.9mln from £2.7mln, while consulting revenues increased by 4% to £1.24mln.
ECSC said it has maintained its ability to deliver its services remotely during the coronavirus pandemic, adding that it reached its pandemic target of operating on an adjusted EBITDA breakeven in May and exceeded it in June.
The company also said it has continued a phased return of its furloughed employees as a result of its continued growth.
"I am pleased to report improved financial performance in a period that includes significant [coronavirus] UK economic impact. Continued growth in managed services recurring revenue is a result of previously reported new client wins in addition to the successful contract renewals of all significant existing managed services”, ECSC chief executive Ian Mann said in trading upate.
“I am also delighted that the group remained profitable in the period on an Adjusted EBITDA basis. The steps taken in recent months by the board and management should position the group well for the remainder of the year", he added.