UK-based infosec consultancy NCC Group is withdrawing from the domain services biz while retaining domain security capability.
The tactical switch was announced as NCC reported revenues up 56 per cent to £209.1m in the 12 months to 31 May 2016, compared to £133.7m in its previous financial year.
NCC s adjusted pre-tax profits rose to £37.0m in 2016 compared to £29.5m before £18.9m in exceptional charges.
The bulk of these charges stem from NCC s exit from the domain service business, resulting in an exceptional charge of £13.7m.
The decision to exit domain services was taken following a strategic review, which concluded competing in the segment was holding NCC back and it would do better to focus on more profitable assurance information security and security consulting and escrow operations, as an NCC statement explains:
The Group continues to believe that safe, controlled open or branded domains will play a major part in the Internet landscape in the years to come, but has recognised that other opportunities will provide a faster return on Group assets and investments.