NCC Group posts higher revenues as it fights cyber crime

Information security company NCC Group posted higher revenues Thursday as a rise in cyber crime called for safer online practices in businesses.

Information security company NCC Group posted higher revenues Thursday as a rise in cyber crime called for safer online practices in businesses.

The company, which provides software escrow and online protection services, reported a 13% increase in group revenues to £48.1m for the six months to November 30th, 2012.

Group adjusted pre-tax profits increased 6.0% to £10.9m, up from 10.3m in 2011.

Interim dividend climbed 15% to 0.98p compared to 0.85p in the previous year.

Chief Executive Officer Rob Cotton said the demand for tighter online security, particularly in the financial sector, drove revenues higher.

"Assurance has made particularly strong progress as international information security markets continued to show double digit growth," he said in an interview with Sharecast and Digitallook.

He also pointed out a strong market in smartphone and tablet devices which he said accounted for 13% of online traffic.

The company is currently developing new ways to target mobile technologies in protecting sites from hackers.

"We're looking at ways of making the internet safer for businesses," he said.

The British government recently warned of an increase in money stolen through cyber crime as a lack of businesses had sufficient IT protection systems in place.

"I totally agree," Cotton said.

"Companies need to protect themselves from cyber crime whether that be in retail, insurance, finance, government or non-government."

He explained the company experienced particular growth in the US following two acquisitions in New York including security testing service Matasano Security and mobile application and device security company Intrepidus.

The biggest challenge for the company during the period was a shortage in the workforce.

Cotton said security testers with the right skills set were hard to come by, so they will be recruiting graduates and training them in the field.

"We are looking for someone who has the right mind set to which it comes naturally for them. Someone who goes home and is still on the internet," he said.

Cotton said the company would focus on employment this year and expects growth to continue in business.

"Despite the difficult trade market we've had a good run and positive reviews," Cotton said.

Shares jumped 6.74% to 13.50p at 13:44 Thursday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Oil producers are back at their Covid-19 lows – is it time to buy?
Oil

Oil producers are back at their Covid-19 lows – is it time to buy?

With demand for oil hammered by Covid-19 and talk of “peak oil demand”, there are lots of good reasons to be bearish on oil producers. So, asks John S…
22 Sep 2020
The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020