NCC Group PLC has reported a doubling in its full-year pre-tax profit as its revenues increased strongly boosted by acquisitions.
The cybersecurity firm said its pre-tax profit rose to £31.0mln in the financial year ended May 31, 2022, up from £14.8mln a year earlier, as revenue rose by 16.4% at actual rates to £314.8mln from £270.5mln.
NCC said its acquisition of Iron Mountain's Intellectual Property Management (IPM) in June last year contributed £20.2mln in revenue, delivering an overall growth in its Software Resilience division of 55% on a constant currency basis.
In the results statement, NCC chairman Chris Stone said: "The integration of IPM is substantially complete and the business has already made a positive contribution to the Software Resilience division's performance, with a healthy pipeline heading into the new financial year."
NCC said it made a positive start to financial 2023 and is confident in meeting management expectations for the year.
Mike Maddison, the company's recently appointed chief executive officer, commented: "Evident in my first two months is the exciting opportunity that exists for NCC Group. Businesses fully recognise the need to invest in their resilience, and as the pandemic recedes and business activity normalises, this recognition is being met with action across our sectors and geographies."
The FTSE 250-listed company left its final dividend unchanged at 3.15p, making a total annual payout of 4.65p, also unchanged.
In early morning trade in London, NCC shares were up 0.6% at 189.60p.