What ECSC does
ECSC Group PLC (LON:ECSC) is one of the UK’s longest-running providers of cybersecurity services. Established in 2000, ECSC specialises in 24/7 security breach detection and artificial intelligence (AI).
The company’s services range from security management and consultancy to testing services which uncover vulnerabilities and technology labs that develop new solutions.
How is it doing
In a trading update following its interims in September, the cybersecurity firm said the three business lines had seen organic growth of around 25% in the period, while for the fourth quarter to-date consulting bookings reached record levels.
ECSC has also recruited more sales partners, taking its total to 87, while cash at the end of October had also risen to £450,000 from £190,000 at the end of June.
As a result, the company said it expected its full-year results to be “broadly in line with market expectations”.
For the six months ended 30 June, ECSC reported an adjusted EBITDA loss of £190,000, down from a £490,000 loss in the prior year, while revenues had remained relatively steady, dipping to £2.63mln from £2.65mln.
Into the second half of the current year, the company also reported record revenues in July of £620,000, up 42% year-on-year, alongside an adjusted EBITDA profit of £100,000.
What the boss says – Ian Mann
“Despite some challenging UK economic conditions, the team has continued to win new clients, and deliver outstanding levels of client service, reflected in improved financial performance across the group”, Mann said in mid-November.
The increasing levels of cyber breaches, and strong demand across all ECSC cyber security services, positions ECSC very well moving into 2020", he added.
Looking ahead, ECSC expects new GDPR related fines for cybersecurity breaches were soon to be issued, which it expected would strengthen demand for cybersecurity services.
With the shares trading at around 92.5p as of 19 November 2019, ECSC carries a market cap of £6.8mln.