Elecosoft PLC Year End Trading Update (3824A)

TIDMELCO

RNS Number : 3824A

Elecosoft PLC

21 January 2020

For release 21 January 2020

Elecosoft Plc

("Elecosoft" or the "Company")

Year end trading update

The Board of Elecosoft (AIM: ELCO), the international construction software specialist, is pleased to announce that results for the year ended 31 December 2019, based on unaudited management accounts, are expected to be ahead of the prior year and will be in line with market expectations. The Board is also pleased to note that Elecosoft significantly improved its cash generation in the year.

John Ketteley, Executive Chairman of the Company, commented:

"Elecosoft remained resilient throughout 2019 despite adverse exchange rate movements and delays and hesitations occasioned by Brexit in the placing of orders by companies in the construction, manufacturing and retail sectors, all of which are served by Elecosoft. I am sure that shareholders will be particularly grateful to our employees this year for their continuing dedication and outstanding performance in such difficult trading conditions."

Enquiries:

 
Elecosoft plc                         +44 (0)20 7422 8000 
John Ketteley, Executive Chairman 
Jonathan Hunter, Chief Operating 
 Officer 
Ben Moralee, Group Finance Director 
 
 
finnCap Limited                       +44 (0)20 7220 0500 
Geoff Nash/Kate Washington (Nomad) 
Camille Gochez (ECM) 
 
 
Newgate Communications                +44 (0)20 3757 6880 
Elisabeth Cowell/Isabelle Smurfit     elecosoft@newgatecomms.com

About Elecosoft plc

Elecosoft plc is an AIM-listed (AIM: ELCO) software company with interests based principally in the UK, Sweden, Germany, Benelux, and the US. Elecosoft develops award winning software applications and related services to the architectural, engineering, construction and owner/operator sectors.

Elecosoft delivers a portfolio of software for project management, estimation, visualisation, Building Information Modelling (BIM), property management and digital marketing disciplines.

Elecosoft's software and services are used during early planning stages through to construction and facilities management, driving the performance and day-to-day operations of its customers' businesses.

For further information please visit www.elecosoft.com.

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