CYBER security provider ECSC Group has revealed that it notched up record trading in the second half of the financial year.
ECSC has posted a trading update for the 2019 financial year, in which the company’s results were in line with market expectations.
Over the period it delivered revenue growth of 10 per cent to around £5.9m.
It also recorded managed services recurring revenue growth in excess of 25 per cent.
The company was cash generative in the second half, with an adjusted EBITDA profit in H2 (the second half of the year) of around £0.2m.
Ian Mann, the chief executive officer of ECSC, commented: “We are very pleased that the record trading in H2 resulted in double digit organic annual revenue growth, and a return to adjusted EBITDA profitability.
He added: “Growth in recurring revenue of over 25 per cent shows the effectiveness of our strategy of winning consulting clients and converting them into long-term managed services clients.
He added: “The acceleration of new client acquisitions in 2019 should help to build a solid foundation for future growth.”
AIM listed ECSC Group is a full service cyber security provider.
The Bradford-based company helps to foil cyber attacks which could wreck a client’s finances and reputation.
Last year, the company revealed it had launched a partner programme, which is expanding its reach and routes to market.
ECSC, which had an IPO (initial public offering) in 2016, introduced new AI technology into its global security operations centres.
ECSC’s client list ranges from e-commerce start-ups to global organisations, and the company counts 10 per cent of the FTSE 100 among its clients.
Established in 2000, ECSC operates from two security operations centres (SOCs), based in Yorkshire and Brisbane, Australia.