NCC Group shares up as Q1 trading in line with forecasts

Shares in global cyber security and risk mitigation group NCC Group rose on Wednesday as the company said its first quarter had been in line with expectations.

In a statement ahead of the company's annual meeting, NCC said it continued to trade in line with forecasts for full year adjusted operating profit.

NCC swung back into profit last year as it overhauled its strategy after a turbulent period. The company posted pre-tax profit of £11.9m for the year to the end of May compared with a loss of £44.8m a year earlier.

Revenue from continuing operations rose 8.3% to £232.2m and adjusted organic revenue growth was 11.8%.

NCC replaced its chairman and chief executive after losses and delays of several contracts triggered a profit warning in December 2016.

New CEO Adam Palser has overhauled the company’s strategy and sold non-core businesses to capitalise on demand for cyber protection after a series of high-profile attacks on organisations’ computer systems.

Palser said: "We are shaping our future through the Securing Growth Together transformation programme, which is in its early stages but has made a promising start. I'm pleased with our overall performance in the quarter and remain excited by the group's long term prospects."