Cyber security services ECSC Group has reversed a previously reported reduced level of consulting services demand with gross profits increasing.
The Bradford-based business reported an 18 per cent increase in gross profits to £1.44m for the six months ended June 30, 2019. While revenues remained flat.
ECSC said it had secured 59 new consulting clients in the period, an increase of 18 per cent on 2018.
Ian Mann, CEO of ECSC, said: “We are pleased that from the start of the second half the previously reported reduced level of consulting services demand has now been reversed, with consulting growth recovering strongly to match the continued growth in managed services recurring revenue and cyber incident response service.”
The firm said trading was broadly in line with expectations for the full year and that it was on track to reach EBITDA profitability.
David Mathewson, non-executive chairman ECSC, said: “Since period end, the return to profit, positive cash flow, and strong Q3/4 outlook are testament to the continued improvements across the business. The recent release of the first significant GDPR related cyber security breach fines highlights the continued need for ECSC’s proven expertise and long-established services which is now showing in our current trading.”