NCC released a detailed H1’17 trading update yesterday. Group revenue increased 35% in the period to £125.8m (+18% organic) and adj. EBITDA grew 15% to £21.3m. As flagged in October however, three large contract losses and a contract deferral will impact the full year outcome. We proactively downgraded our forecasts in November and reduce FY’17 EBITDA by a further 7% today. While the FY’17 performance is disappointing, we believe that cyber security remains a strong area of structural growth whi ....
14 Dec 2016
N+1 Singer - NCC Group - Weak FY’17 confirmed, underlying business sound
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N+1 Singer - NCC Group - Weak FY’17 confirmed, underlying business sound
NCC Group plc (NCC:LON) | 125 1 0.6% | Mkt Cap: 390.6m
- Published:
14 Dec 2016 -
Author:
Oliver Knott -
Pages:
5
NCC released a detailed H1’17 trading update yesterday. Group revenue increased 35% in the period to £125.8m (+18% organic) and adj. EBITDA grew 15% to £21.3m. As flagged in October however, three large contract losses and a contract deferral will impact the full year outcome. We proactively downgraded our forecasts in November and reduce FY’17 EBITDA by a further 7% today. While the FY’17 performance is disappointing, we believe that cyber security remains a strong area of structural growth whi ....