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NCC Group Fiscal Pre-Tax Profit Increases

NCC Group Plc. (NCC.L) announced an increase in pre-tax profit for the fiscal 2013, ended on May 31. The result was helped by improved revenue and absence of impairment losses.

The Manchester, UK based provider of information technology assurance and protection services firm reported a pre-tax of 18.76 million pounds compared to 10.57 million pounds in the prior year. Profit attributable to the equity holders of the parent company was 14.48 million pounds, significantly higher that 7.62 million pounds in the previous year.

On a per share basis, earnings from continuing operations was 6.9 pence, up 8 percent from 3.6 pence in the comparable last year.

Adjusted pre-tax profits grew to 23 million pounds from 22.6 million pounds in the previous year, while adjusted earnings per share improved to 8.4 pence7.8 pence in the prior year.

Revenue for the fiscal year climbed 13 percent to 99.23 million pounds from 87.71 million in the prior year. Total administrative expenses were narrower at 16.022 pounds, compared to 21.95 million pounds a year ago. Impairment losses of 6.1 million recorded last year was absent in the reporting period.

The company looks forward to increase in group Escro renewals to 18 million pounds and group escrow verification order book to 2.3 million pounds. Assurance testing order book and renewals is expected to be up 20 percent to 30.7 million pounds.

Rob Cotton, chief executive of the group said, "We have delivered a solid performance which has seen revenues up 13%, 8% organically...With total renewals and order book of £51m already secured for the current financial year and our global reach and product range providing a platform for sustained long term growth, the outlook for the Group remains very good."

NCC.L closed Thursday's trad at 135.93 pence, up 7.67 percent.

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by RTT Staff Writer

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