ECSC on track as it moves back into profit

Cyber security firm ECSC, which counts Barclays, GCHQ and Virgin East Coast Trains among its high profile clients, reported revenue growth of over 30 per cent in 2018.

A cyber security research analyst at the ECSC Security Operations Centre in Bradford

The Bradford-based firm trading is comfortably in line with market expectations as it moved back into profit in 2018.

The group’s CEO Ian Mann said: “We are delighted to report such strong organic growth for the full year, and moving back into profit, with continued emphasis on our Managed Services recurring revenue. The team continues to acquire new clients, deliver quality service, and build a solid base for ongoing growth.”

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ECSC reported revenue growth of over 30 per cent to £5.4m in the year to December 31. Managed Services revenue growth was in excess of 50 per cent. Consulting Services revenue growth was over 25 per cent.

The group reported profitable trading in the fourth quarter of 2018, contributing to an improving financial performance.

David Mathewson, non-executive chairman, said: “The performance reflects a focused and motivated team delivering strong growth, whilst keeping tight control over costs and cash management.

“Our programme of cost reductions in late 2017 and early 2018 improved our efficiency, whilst maintaining our service quality and growth capability.”

ECSC’s vision is to expand its blue-chip client base with particular emphasis on Managed Services recurring revenue.

Mr Mathewson said the market for cyber security services remains largely fragmented.

“Many of our competitors still only provide a small portion of the services required to meet clients’ needs whilst, in contrast, ECSC provides a full suite of cyber and information security solutions, offering a compelling client partnership proposition,” he said.