NCC Group PLC
18 April 2008
18 April 2008
NCC Group plc
Interim Management Statement
NCC Group plc (LSE: NCC or 'the Group'), the international, independent provider
of Escrow Solutions, Assurance Testing and Consultancy, is today publishing an
interim management statement covering the period from 1 December 2007 to 17
April 2008.
The Group's overall trading performance continues to be in line with the Board's
expectations and its integration of Escrow Europe, the Netherlands-based
European Escrow Solutions provider acquired in January 2008, is progressing
well.
All divisions have continued to see good growth and Group revenues grew by 42%
for the period, which represents an increase of 17% on a like for like basis,
excluding the recently acquired businesses.
Group Escrow Solutions renewals are now forecast to be £11.1m for this financial
year (November 2007: £10.6m) including Escrow Europe. Group termination rates
continue to be below 10% for contracts and beneficiaries.
UK Escrow Solutions has continued to grow, especially in Escrow Verification
Testing. During the period the UK Escrow Sales team has undergone a significant
reorganisation, the benefits of which will be seen in the final period of the
current financial year and thereafter.
Globally the Group now has in excess of 25,000 beneficiaries to Escrow
agreements. There are now 14,892 beneficiaries to the UK agreements, excluding
minimum annual fees, (November 2007: 14,400). Total Escrow Verification Testing
orders are currently £2.0m of which £1.6m is in the UK (November 2007: £1.5m).
The Assurance Testing division has seen continued good sales growth with strong
orders and renewals for the businesses. Ethical Security Testing has an order
book of £3.6m (November 2007: £3.0m) as market demand continues to increase for
high quality Ethical Security Testing.
The Load and Performance Testing business monitoring renewals are more than
£3.5m for the current financial year (November 2007: £3.5m) and the renewal rate
remains greater than the planning assumption of 90%.
The Consultancy division order book is very strong, especially for information
security services and stands at £2.5m (November 2007: £2.0m).
Group Share Options charges are likely to be £0.9m for the year ended 31 May
2008 due to the correction of previous misinterpretation against an expectation
of £0.6m.
The Group will be included in the FTSE techMARK All Share Index at the earliest
possible opportunity.
Overall the Group remains on course to deliver another year of strong growth for
the year ended 31 May 2008. The Group expects to publish its preliminary
results for the year in early July.
Enquiries:
NCC Group (www.nccgroup.com)
Rob Cotton, Chief Executive 0161 209 5432
College Hill
Adrian Duffield/Kate Norton 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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