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ECSC sees 'positive momentum' in Q3
4th Nov 2020 09:33
(Sharecast News) - IT services group ECSC reported some "positive momentum" in third-quarter revenues and adjusted underlying earnings on Wednesday.
ECSC said group revenues for the quarter had exceeded the average quarterly revenue for 2019, with recurring managed detection and response revenues growing 22% year-on-year.
Adjusted underlying profits exceeded £50,000 per month, with new major contract wins for its MDR unit representing "a significant proportion" of the order book.
The AIM-listed group also highlighted that it had continued the recruitment of sales partners - with 16 new partners added during the period, generating 14 new sales opportunities in the process.
Chief executive Ian Mann said: "ECSC is securing major contracts, adding partners to drive commercial opportunities and resuming recruitment, which demonstrates the resilience and strength of our business model in these challenging times.
"We believe the group is well positioned to continue to deliver quality services meeting growing demand from existing and potential clients despite continuing Covid-19 related regional lockdowns."
As of 0930 GMT, ECSC shares were down 1.48% at 66.50p.
ECSC said group revenues for the quarter had exceeded the average quarterly revenue for 2019, with recurring managed detection and response revenues growing 22% year-on-year.
Adjusted underlying profits exceeded £50,000 per month, with new major contract wins for its MDR unit representing "a significant proportion" of the order book.
The AIM-listed group also highlighted that it had continued the recruitment of sales partners - with 16 new partners added during the period, generating 14 new sales opportunities in the process.
Chief executive Ian Mann said: "ECSC is securing major contracts, adding partners to drive commercial opportunities and resuming recruitment, which demonstrates the resilience and strength of our business model in these challenging times.
"We believe the group is well positioned to continue to deliver quality services meeting growing demand from existing and potential clients despite continuing Covid-19 related regional lockdowns."
As of 0930 GMT, ECSC shares were down 1.48% at 66.50p.