Cyber Security business ECSC hails progress after IPO

Bradford cyber security business ECSC has revealed strong organic revenue growth and the proceeds from last year’s float will accelerate company growth.

ECSC counts Barclays, GCHQ and Virgin East Coast Trains among its high profile clients, and already looks after around 10 per cent of the FTSE 100.

Earlier this week, the company reaffirmed its commitment to Yorkshire, but opening a new security operations centre in Bradford.

“I am delighted with the progress of the business throughout 2016, a year in which we not only successfully admitted the company to AIM but also achieved strong organic revenue growth across all parts of the company,” said chief executive Ian Mann.

“I am particularly pleased with the performance of the business given that we have invested significantly in scaling the business during the year and have expensed most of these costs.”

The company posted revenue for the 15 months to December 2016 of £4.5m and adjusted EBITDA of £630,000.

“Our strong organic revenue growth coupled with the proceeds from the IPO will enable us to deliver on our accelerated growth plan to significantly scale the business to satisfy the strong market demand for our products and services and build on our track record as a proven, premium quality provider of cyber security services with a blue-chip client base,” Mann added.

“I am pleased with the progress we have made to date in regard to our organic growth strategy. We are mindful of the degree of change being implemented within the business and we are approaching these significant scale changes with appropriate care and attention. “