NCC Group firmly on track to meet FY expectations

StockMarketWire.com – NCC Group said it is firmly on course to meet its expectations for the current financial year.

“We remain confident that we will be able to maintain our double digit organic growth, supplemented by suitable acquisitions, as we are exceptionally well positioned to take advantage of the growing services led markets in which we operate,” said CEO Rob Cotton in a statement.

Group revenues are 60% ahead of last year at £166.1m (March 2015: £104.1m). Organic growth has been 21% (March 2015: 14%).

As expected the Group’s net debt decreased, following the £126.3m fundraising, which partially financed the acquisition of Fox-IT in November 2015, to £18.5m (March 2015: £37.5m) against a total debt facility of £115m.