Results round-up
Cyber security and risk mitigation consultant NCC’s full year revenues grew as they joined the FTSE 250 index but it also raised concerns about cyber security in light of Brexit.
Revenue increased by 56% to £209.1m for the year ending 31 May, as organic growth grew 19%. Adjusted profit before tax was up 45% to £37m.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was up 48% to £43.7m before an £18.9m exceptional charge.
The company’s adjusted operating profit was up 46% to £38.4m, which included operating profit of £25.7m, up 52% from its Assurance division and £20.1m, up 6% from its Escrow division.
NCC’s total dividend was also up by 17% to 4.65p. The company said since it floated in July 2004 the dividend had increased from 0.42p p 4.65p, which is a compound annual growth rate (CAGR) of 25%.
The company, which joined the FTSE 250 index in December last year, had a 67% increase to £10.4.6m of its forecast contracted revenue and order book.
Chief executive Rob Cotton said post-Brexit, the UK would need to develop data protection standards similar to the European Union (EU)’s in order to do business globally and with the single market.
High street retailer Sports Direct reported on a “disappointing” year on Thursday, with retail revenue excluding Heatons improving by just 0.6%.
The FTSE 250 firm said total group revenue was up 2.5% to £2.9bn in the year to 24 April, with gross group margin improving 0.4% to 44.2%.
Underlying EBITDA shrunk 0.5% to £381.4m, with underlying profit before tax dropping 8.4% to £275.2m and underlying earnings per share retreating 8.7% to 35.5p.
Reported profit before tax was ahead 15.4% at £361.8m, with reported earnings per share reaching 46.8p.
Sports Direct’s net debt almost doubled during the year, to £99.6m from £59.7m.
“The group has delivered a disappointing full year financial performance, impacted primarily by a tough trading environment in the second half across our sports retail businesses,” said chief executive Dave Forsey.