Security firm reports strong revenues in "challenging times"

The Bradford-based firm said its managed detection and response (MDR) division reported a 22 per cent increase in recurring revenue and its profits were over £50,000 a month.

Ian Mann, chief executive of ECSC, said: “We are pleased to announce continued positive momentum in revenue and adjusted EBITDA for the third quarter.

"ECSC is securing major contracts, adding partners to drive commercial opportunities and resuming recruitment, which demonstrates the resilience and strength of our business model in these challenging times.

“We believe the group is well positioned to continue to deliver quality services meeting growing demand from existing and potential clients despite continuing Covid-19 related regional lockdowns.”

Last week, the firm announced two significant contract wins with a major UK rail company and a national builder's merchant.

ECSC said the two contracts, each of which are for an initial period of three years, have a combined revenue value of £580,000 and represent over 20 per cent of its current managed detection and response (MDR) division order book.

The firm will provide 24/7/365 cyber security monitoring, detection and response support from its Security Operations Centres (SOCs) located in the UK and Australia, employing its proprietary Kepler Artificial Intelligence (AI) technology to deliver an enhanced service.

ECSC is continuing to recruit new sales partners with the recruitment of 16 new partners, generating 14 new sales opportunities in the third quarter.

The group reported record attendance at its new webinar cyber security events, with over two-thirds of attendees being non-clients.