NCC Group, the Manchester-based global cyber security firm, said its revenue fell 9.9% to £159.2 million in the six months to November 30, 2023, but the first half of the year “traded in line with management’s revenue, gross margin and profitability expectations.”

NCC Group CEO Mike Maddison said: “The group delivered a first-half financial performance in line with expectations while continuing to transform the business at pace.

“We are emerging as a stronger, more resilient organisation, driven by our new executive team and colleagues.

“I’m delighted to see Escode go from strength to strength and in Cyber I’m confident we’ve turned a corner with the Technical Assurance Services market stabilising.

“Importantly we continue to see predicted demand increasing in other areas which are central to our strategy, particularly Managed Services.

“Looking ahead, we are well placed for sustainable long-term growth as we deliver on our purpose to create a more secure digital future.”