Summary Financial • Year on year growth in Group revenue, gross profit, Adjusted operating profit and profit before taxation • Another year of excellent cash management Operational • Successful acquisition of IPM with strategic and financial importance • Exciting development and growth of key service lines for the future • Market prospects continue to evolve and create opportunities • We continue to have a strong and flexible Balance Sheet that will allow us to fund future organic and inorganic growth Our FY22 operational priorities are: Assurance • Broadening our portfolio (adding services and solutions across the cyber lifecycle) • Growing recurring global MDR services • Effective use of our global resourcing model Software Resilience • Addressing execution challenges and returning Software Resilience to sustainable growth • Continuing to broaden the portfolio through innovation and growing our EaaS proposition • Embedding the IPM acquisition and minimising integration costs Outlook • For the current financial year (FY22), the Board expects higher revenue growth as compared to FY21 partially offset by increased global costs from inflationary pressures as well as a resumption in travel and office usage. IPM integration costs are expected to be c.£2.5m • Our medium-term objectives continue to be double-digit revenue growth in Assurance and sustainable revenue growth in Software Resilience • Q1 FY22 revenue growth was stronger than prior year in local currency but we experienced some un-anticipated disruption in customer buying patterns over the summer period. Q1 orders were ahead YoY and our orders pipeline is robust. Consequently, the full year outturn remains in line with management expectations • The Board is recommending an unchanged final dividend of 3.15p (2020: 3.15p) per ordinary share
Adam Palser Chief Executive Officer 14 September 2021
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