Cyber security firm announces solid progress despite the pandemic

The Bradford-based firm announced earnings of over £400,000 in the year to December 31, up from break even in 2019.

Ian Mann, chief executive of ECSC, said: "Despite the challenges posed by the Covid-19 pandemic, the group made solid progress during the 2020 financial year, and we are particularly pleased to report growing adjusted EBITDA profitability and cash generation."

ECSC's Managed Detection & Response (MDR) division reported recurring revenue growth of 22 per cent to £2.42m.

Group revenue dipped from £5.9m to £5.7m and the firm signed up 90 new Assurance division clients.

Mr Mann said: "The £3m of group revenue in the second half illustrates the recovery in the Assurance division following the Covid-19 related impact seen in the second quarter.

"The continued growth in recurring MDR revenue demonstrates the resilience of this service line, and our effective strategy of winning consulting clients and converting them into long-term managed services clients.

"ECSC is well-positioned in the growing cyber security marketplace, and we are now resuming our organic growth strategy and related recruitment activities. I would like to thank the whole team for an outstanding performance under challenging circumstances."