Join our community of smart investors

Cyber security giant NCC plunges on profit warning

Shares in the software group plummeted after management revealed multiple contract issues
Cyber security giant NCC plunges on profit warning

Shares in NCC (NCC) tumbled more than a third after the FTSE 250-listed cyber security group warned that setbacks in its key assurance business (see graphic) would weigh on profit growth in the six months to November. Management said it was too soon to estimate the impact on NCC's full-year figures, but profit growth remains on track.

infogr.am/4c1bd570-7558-4d20-ae32-a2b020ecdde0 600

IC TIP: Hold at 219p

Both assurance and escrow sales rose in the four months to 30 September, sending total organic revenue up 21 per cent. However, the group suffered from three contract cancellations, the deferral of a large contract and issues renewing certain managed services relationships.

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in