Highlights 1
GAAP measures
Revenue £270.5m
Operating profit 2,3 £17.3m
Basic EPS 2,3 3.6p
21
21
21
17
18
19
20
17
18
19
20 (restated) 3
17
18
19
20 (restated) 3
Alternative Performance Measures 2
Net cash/(debt) 2 £83.3m
Adjusted operating profit 2, 3 £39.2m
Adjusted EPS 2, 3 9.5p
21
21
21
17
18
19
20
17
18
19
20 (restated) 3
17
18
19
20 (restated) 3
Footnotes 1 References for the Group’s results are for continuing operations. 2 S ee Note 3 for an explanation of Alternative Performance Measures (APMs) and adjusting items. Further information is also contained within the Chief Financial Officer’s Review and the Glossary of terms on pages 187 and 188. 3 S ee Note 34 for an explanation of the prior year restatement recognised in relation to the adoption of the IFRIC agenda decision on cloud configuration and customisation costs in April 2021. The 2017 to 2019 figures above have not been restated. The following additional information and reconciliation is noted in relation to Adjusted operating profit due to the adoption of the IFRIC agenda decision: 2021 £m 2020 £m Change
39.2
Adjusted operating profit (as noted above)
30.7
27.7%
(3.0)
Proforma amortisation charge in respect of certain cloud-based software arrangements (see explanation below)
(1.4)
(114.3%)
36.2
Adjusted operating profit less a proforma amortisation charge in respect of certain cloud-based software arrangements
29.3
23.5%
The proforma amortisation adjustment noted above represents an estimate of the amortisation that would have been recognised had the Group not changed its accounting policy in the current year following additional clarification on the accounting in relation to the configuration and customisation costs incurred in implementing Software-as-a-Service (SaaS) arrangements in the IFRIC agenda decision issued in April 2021. The proforma amortisation charge is estimated based on cloud configuration and customisation costs charged to the income statement in the year of £5.1m (2020: £7.9m). The Directors consider that Adjusted operating profit less a proforma amortisation charge in respect of certain cloud-based software arrangements is comparable to Adjusted operating profit previously reported.
Successful acquisition of IPM with strategic and financial importance
Strong trading performance despite the pandemic
Another year of excellent cash management
Our cyber and resilience markets continue to offer excellent long-term growth prospects
Exciting development and growth of key service lines for the future
Investing for the future
NCC Group plc — Annual report and accounts for the year ended 31 May 2021
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