Ian Mann, CEO of ECSC Group (LON:ECSC): Trading Update

ECSC Group plc (AIM: ECSC), a proven provider of cyber security services, is pleased to announce an update on trading for the fifteen months ended 31 December 2016.

We spoke yesterday with Ian Mann, CEO of ECSC Group, about their recent trading update RNS and what the future holds for the company.

Trading throughout the financial period has been good. Both revenue and adjusted EBITDA for the fifteen months ended 31 December 2016 are expected to be in line with the Board’s expectations at the time of the IPO. As at 31 December 2016, the Company had net cash of approximately £5.0 million providing the Company with a sound financial platform to support its investment plans.

Commenting on the results, Ian Mann, CEO of ECSC said:

“I am pleased to report a positive first trading update to the market for ECSC as a publicly listed company. The Group is already benefiting from its admission to AIM with a strengthened balance sheet and enhanced profile in the marketplace. Our listing has enabled us to execute the first phase of our detailed organic growth strategy and to start scaling up our business.

“We have already made good progress in this regard. We have recruited all the new sales and delivery employees targeted for this stage of our plan, yielding an additional 26 sales personnel, making 37 in total. The quality of our new staff members is excellent with all the new recruits having successfully completed the new Sales Academy training and assessments. Market conditions continue to be favourable and we look forward to the 2017 financial year with confidence.”

The Company will be announcing its results for the fifteen months ended 31 December 2016 on 22 March 2017.

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