Cyber security services specialists ECSC Group said it had many “significant opportunities” to build relationships with potential clients despite facing economic headwinds caused by rising inflation and the cost of living crisis.

Bradford-based ECSC Group has revealed that its total revenue in the six months ended June 30 2022 was £2.77m, which is a fall of eight per cent on the same period the year before.

The group plans to hire more staff in Yorkshire and also stressed that many organisations still need support from specialists to prevent a cyber security breach.

Commenting on the results, Ian Mann, the executive chairman, said: “Following fresh challenges in H1 (the first half), I am pleased to see how the group has responded, as reflected in the recent MDR (Managed Detection and Response) recurring revenue wins and the current level of assurance consulting bookings.

"Increases of 30 per cent in both MDR order book and current assurance booking levels illustrate the up-turn we are seeing on a range of internal KPIs (key performance indicators).

“There is now strong evidence that post COVID-19, cyber security has returned as the number one priority for most organisational boards. “ECSC is the ideal partner to advise and secure these organisations.

Mr Mann added: “I am delighted with the recent appointment of Matthew Briggs as our new chief executive officer (CEO). He brings a wealth of senior commercial experience, placing him in an ideal position to lead us through the next stage of our development.

“As a previous client of ECSC, with a good understanding of our services, he has worked rapidly to understand the opportunities for the group and brought with him the highest expectations for the whole team.

ECSC Group's results will be studied closely by City analysts

“We intend to fully report the current, and planned, board structure in our annual report.

He added: “However, in line with QCA guidance, my position as chairman will be temporary, and reviewed in light of future non-executive appointments.

In a statement, Mr Briggs, who was appointed as the group’s chief executive in August, said: “It is clear from what has been observed so far, and what I know of the market, that there are significant opportunities for ECSC.

"And whilst at a macro level, there may be some headwinds from inflation, cost of living, salary costs and interest rate rises, history tells us that the cyber security industry is resilient compared to many other sectors.”

ECSC Group has announced its unaudited interim results for the six months ended June 30 2022.

Mr Briggs said that, while revenue growth during 2022 will not have been at a level the board would have wished, “one of the overwhelming reasons for me joining ECSC was the opportunity for significant profitable growth, and the early signs are indicating that this is within our gift”.

Mr Briggs said that “from a standing start” the group already has more than “25 conversations in play” many of which are with blue chip brands with extensive client banks, potentially interested in offering the group’s services to their clients.

He said Yorkshire was a “real heartland” for the group and it employs around 50 staff in the county.

Cyber security is priority for most organisations, says ECSC Group