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NCC on course for another strong year

Cyber security specialists NCC Group is expecting to post a strong set of results, with revenues for the 10 months to 31 March already 53 per cent ahead of last year, at £57.6m.

The Escrow business has demonstrated 8 per cent revenue growth in the period, with renewals of £15.5m underpinning growth. But revenue growth in Escrow UK has slowed, with sales rising by 6 per cent, against 9 per cent last year. However, this should be more than offset by 97 per cent growth in sales in the Assurance business, where the order book has almost trebled to £19.2m.

SHARE TIP UPDATE:

Shares in NCC have gained 5 per cent since our buy advice (540p, 7 Jan 2011), and with analysts at Peel Hunt giving a price target of 715p, they are still a buy.

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By Malar Velaigam ,
19 April 2011

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