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NCC - Recurring revenues up 22%

August 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NCC
  • Price:
  • 350p
Escrow solutions business NCC has so far dealt with the recession with great aplomb as it increased pretax profit by 17% to £12.3m on turnover that rose 31% (21% organic) to £46.8m. Fully diluted eps increased 17% to 26.1p. Meanwhile cash generation was strong and in spite of £11.4m spent on acquisitions and deferred acquisition payments, net debt increased by just £2.2m to £5.6m. The platform was again provided by the escrow business, which sits between a software developer and its licencee holding critical material (usually source code) that it will release under certain trigger events, such as the developer going bust. Escrow UK increased revenue by 6% to £16.6m, with a stronger second half making up for a poor H1 when cl ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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