NCC Group announced its full year results to May ’15 last week, which were largely flagged at the trading update in May. Group revenue came in slightly ahead of expectations at £133.7m (N+1Se: £128.5m) and adj. EBIT was in-line at £26.4m (N+1Se: £26.2m). We believe the group continues to benefit from a lack of UK opportunities to play the attractive cybersecurity theme but at the current level the shares look fully valued. We make small forecast upgrades (+3.5% to FY’16 PBT), update our SOTP val ....
16 Jul 2015
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NCC Group plc (NCC:LON) | 125 1 0.6% | Mkt Cap: 390.6m
- Published:
16 Jul 2015 -
Author:
N+1 Singer Team -
Pages:
8
NCC Group announced its full year results to May ’15 last week, which were largely flagged at the trading update in May. Group revenue came in slightly ahead of expectations at £133.7m (N+1Se: £128.5m) and adj. EBIT was in-line at £26.4m (N+1Se: £26.2m). We believe the group continues to benefit from a lack of UK opportunities to play the attractive cybersecurity theme but at the current level the shares look fully valued. We make small forecast upgrades (+3.5% to FY’16 PBT), update our SOTP val ....