Elecosoft PLC Trading Update (1624I)
August 07 2019 - 2:01AM
UK Regulatory
TIDMELCO
RNS Number : 1624I
Elecosoft PLC
07 August 2019
7 August 2019
Elecosoft plc
("Elecosoft", the "Company" or the "Group")
Trading Update
The Board of Elecosoft announces a trading update for the six
months ended 30 June 2019, based on unaudited management accounts
for the period.
Unaudited revenue for the period increased by 20 per cent
compared with revenue for the same period last year. At constant
rates of exchange, unaudited revenue would have increased by 22 per
cent. Trading margins for the period were consistent with the prior
year and preliminary results for the half year based on unaudited
management accounts indicate that the outlook for the full year
remains in line with market expectations.
Elecosoft continued to generate positive cashflow in the period
and reduced its net debt from GBP2.1m at 31 December 2018 to
GBP0.6m at 30 June 2019. The Company expects to announce its
interim results in late September and will confirm a date in due
course.
John Ketteley, Executive Chairman of Elecosoft said:
"Elecosoft continued to perform well in the first half of 2019;
and will continue to concentrate on increasing sales, on improving
further our significant recurring income, and on generating
positive cash flow in the second half."
For further information, please contact:
Elecosoft plc Tel: +44 (0)20 7422
8000
JHB Ketteley, Executive Chairman
Jonathan Hunter, Chief Operating Officer
Ben Moralee, Finance Director
finnCap Ltd Tel: +44 (0)20 7220
0500
Geoff Nash / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
Newgate Communications Tel: +44 (0)20 3757
6880
Elisabeth Cowell / Fiona Norman
About Elecosoft plc
Elecosoft is a specialist international provider of software and
related services to the Architectural, Engineering, Construction
and Owner-Operator industries and digital marketing industries from
centres of excellence in the UK, Sweden, Germany and the US.
Elecosoft's market leading software solutions are developed by
teams in the United Kingdom, Sweden and Germany; and its software
solutions cover project management, construction site management,
estimating, timber engineering, 3D design and visualisation, and
cloud based digital marketing solutions. Elecosoft is listed on the
Alternative Investment Market in London (AIM: ELCO).
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTGMGGRGVVGLZZ
(END) Dow Jones Newswires
August 07, 2019 02:01 ET (06:01 GMT)
Eleco Public (LSE:ELCO)
Historical Stock Chart
From Apr 2024 to May 2024
Eleco Public (LSE:ELCO)
Historical Stock Chart
From May 2023 to May 2024