Cybersecurity firm ECSC grows revenue as pandemic boost continues
Cybersecurity group ECSC today reported a double-digit rise in revenue for the first half of the year as it continues to cash in on higher demand during the pandemic.
The Aim-listed firm said revenue from its managed detection and response division rose 17 per cent to £1.45m in the six months to the end of June, while assurance revenue jumped by a fifth to £1.49m.
Overall, group revenue was up 15 per cent at just over £3m.
Cyber firms such as ECSC have enjoyed a boost to trading over the last 18 months as clients look to bolster their cyber defences due to the shift to home working.
“We are pleased to report that ECSC’s momentum has continued into the first half of this year, with strong growth across both our MDR and assurance divisions, owing in part to our focus on converting increasing numbers of assurance clients and those with incident response retainers to long-term MDR clients,” said chief executive Ian Mann.
“Following the relatively short-term impact of Covid-19 in 2020, the teams have adapted well to new ways of working within both our sales and delivery functions, and the group is well positioned to maximise opportunities in a recovering economy.”
ECSC said it had cash of £591,000 at the end of the six-month period, including £142,000 of Covid-19 related government support. The company’s £500,000 bank facility remains unused.
ECSC also announced that board member Ian Castle will step down as a director after overcoming a recent health condition. He will remain in his role as chief technology officer on a part-time basis.
The company will release final figures for the half-year on 22 September.