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ECSC revenues surge as companies beef up cyber defences

ECSC’s consultancy arm added 95 new customers over the year

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Manged services revenues jumped 56%

ECSC Group PLC (LON:ECSC) increased annual revenues by 35% as rising demand for cybersecurity meant a big jump in the number of consultancy customers.

Turnover in 2018 at the cybersecurity specialist rose to £5.4mln from £4mln with underlying losses reduced to £0.6mln from £2.9mln.

ECSC’s consultancy arm added 95 new customers over the year as companies strengthened their cyber defences to avoid heavy fines under the new GDPR rules.

Organic growth

The long-term model is to convert consultancy customers to 24/7 monitoring by ECSC’s managed services arm.

Managed services sales rose by 56% to £1.7mln over the year compared to 27% growth in consulting.

“We are delighted to report such strong organic growth for the full year, well ahead of the previous year, with continued emphasis on building our Managed Services recurring revenue supported by our Consultancy Services, said Ian Mann, chief executive.

Shares rose 2% to 115p.

Quick facts: ECSC Group PLC

Price: 70.5 GBX

LSE:ECSC
Market: LSE
Market Cap: £7.06 m
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