The Latest Highlights & Information
A Letter to Our Clients:
Escrow Associates, LLC is pleased to announce that we have recently become part of the NCC Group plc, www.nccgroup.com the world’s largest technology escrow provider!
As our valued client we wanted to share this wonderful news and some details with you. NCC Group placed a high value on Escrow Associates, LLC’s business practices and as such will not be making any changes to the agreements or services you currently have in place.
In fact, the founders of Escrow Associates, LLC, Christian Dodder and Chris Smith are excited to continue to run the business with the same team you have worked with all along. You will continue to enjoy the same great flexibility and client services for which Escrow Associates, LLC has always been known.
This is an exciting development for us as we are now part of a larger global group, which also has obvious benefits for our clients who will now have access to a wide range and depth of escrow & verification services, greater resources and expertise, together with complementary information assurance services.
As you are already aware, Escrow Associates, LLC is a well established and well respected operation and as such will now trade as Escrow Associates,LLC an NCC Group company.
You do not need to take any actions and you will continue to receive the great service for which we are known. If you have any questions regarding this news, the services we can currently provide or those available from the wider NCC Group, please do not hesitate to contact myself or your account manager.
We have a new tax identification number as well as updated banking information, please contact us directly for these details.
Thank you for your continued business and support.
Sincerely
Christian Dodder
A Letter From The CEO of NCC Group
Dear All
Please see the Group’s Interim Management Statement release to the London Stock Exchange this morning, covering the period from 1 December 2010 to 31 March 2011.
The trading statement shows very solid and consistent growth across both Divisions and we are in line with the Board’s expectations and are on course to deliver the anticipated levels of growth and profitability for the year.
Highlights for the first 10 months of this financial year are:
- Group revenues are 53% ahead of the same period last years at £57.6m (March 2010: £37.7m)
- Group Escrow continues to perform well with 8% revenue growth, with a continued good performance from the Verification testing business
- European businesses revenue growth of 10%
- North American business revenue growth of 14%
- The Assurance division continues to perform strongly with 97% growth in revenue
- NGS Secure and iSEC have grown their combined order book to £12.5m (March 2010: £7.2m)
- Site Confidence continues to achieve monitoring renewals rates of 90% and has seen an 11% growth in contract revenues
- SDLC continues to win substantial testing opportunities and is providing the route for the Group to offer its other premium priced services
Whilst there are still concerns around the underlying UK economy, the Group is on course to deliver another strong year, in line with market expectations. This is very positive although it is vital that we continue the momentum over the remaining weeks of this financial year.
I am also delighted to inform you all that we have appointed Atul Patel as Group Finance Director today, after a number of months as our interim finance director. Atul’s proactive style and confidence brings a breath of fresh air to the finance and support functions and his experience in operational delivery and business change fit extremely well with the dynamic environment across the Group. Please see the full release here
Congratulations and well done to everybody who has contributed so far.
Best regards
Rob
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Rob Cotton
CEO
NCC Group
Manchester Technology Centre, Oxford Road,
Manchester, M1 7EF
Telephone: +44 (0)161 209 5200
Mobile:
Fax: +44 (0)161 209 5408
Website: www.nccgroup.com
Email: Rob.Cotton@nccgroup.com
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Annual Report - Year End May 31, 2011
Strong revenue growth drive profits up 21% and earnings up 25%
Seven year CAGR for operating profit 21% and dividend 32%
NCC Group plc (LSE: NCC, "NCC Group" or "the Group"), the international, independent provider of Escrow and Assurance, has reported its preliminary results for the year to 31 May 2011.
Financial highlights
- Group revenue up 49% to GBP71.0m (2010: GBP47.6m)
- Group adjusted pre-tax profits* up 21% to GBP17.3m (2010: GBP14.3m)
- Adjusted fully diluted earnings per share* up 25% to 36.7p (2010: 29.4p)
- Total dividend up 21% to 13.0p (2010: 10.75p) - CAGR of 32% since 2004
- Cash conversion ratio was 133% of operating profits (2010: 141%)
Operational highlights
- Group Escrow maintained strong revenue growth of 8%
o Escrow UK saw solid organic revenue growth of 6%
o Increased US presence through acquisition of complementary business in Atlanta
- Assurance Division now multinational leading independent information security business
o Organic growth of 17% and operating profit up 70% to GBP6.5m (2010: GBP3.8m).
o Acquisition in US significantly enhanced position and widened global capabilities
o Forensics and operational responses becoming major areas of opportunity
Outlook for 2011/2012:
- Group Escrow renewals forecast to increase by 12% to GBP17.0m (2010: GBP15.2m)
- Group Escrow verification order book GBP2.1m (2010: GBP2.2m)
- Assurance Testing order book and renewals up 23% to GBP22.6m (2010: GBP18.3m)
* Operating profit is adjusted for amortisation of acquired intangibles and exceptional items. Pre-tax profit is adjusted for this item and the unwinding of the discount on the acquisitions' contingent consideration.
Rob Cotton, Group Chief Executive, commented:
"The Group has performed well and flourished during the year - reporting an excellent financial performance. The combination of strong reliable organic growth, carefully acquired and integrated acquisitions and notably cash generation has enabled us to deliver a CAGR of 33% for revenues and 21% of operating profits over the last seven years.
"Both of our business units are continuing to see predictable long term expansion with strongly recurring revenues throughout. The two US acquisitions have transformed our capabilities and provide a sound platform for sustained international growth.
"Within the Assurance division, the exponential growth of all types of activity on the internet, has created an open unregulated and unmanaged environment, ideally suited for a wide range of illegal activities including state-sponsored targeted attacks and the rise of "hacktivism". These are providing considerable opportunities for us to develop this division further into an international leader in information security."
To view the Preliminary Results for the year ended 31st May 2011 in full please click here.