NCC Group, the Manchester-based global cyber security firm, reported a dip in annual sales but posted a profit excluding certain items.

It said revenue declined 3.2% to £324.4 million, largely driven by a dip in cyber security revenue. 

The company posted EBITDA up 7.4% to £42.1 million. Including a number of one-off items, such as impairment at its US business, the company reported an operating loss of £21.5 million. 

Mike Maddison, Chief Executive Officer, said: “As noted in June, we delivered on our expected second six-month performance and the Group also continues to trade for the four-month period to our new financial year end of 30 September 2024, in line with our previous guidance.”

“The Group’s transformation journey is progressing well and is already delivering results; however, work continues. We have enhanced our capabilities in Cyber and diversified our routes to market, developed differentiated brands and implemented a global resourcing and scheduling model enabled by a new delivery and operating centre. We have made this strategic progress whilst successfully reducing our operating costs and improving our gross margin. In addition, we have delivered continued quarter-on-quarter growth of Escode.”