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Eckoh reports revenue and profit growth, says current trading is encouraging

"Eckoh had an excellent performance in the year, with double-digit revenue and profit growth," said chief executive Nik Philpot

Eckoh PLC - Eckoh reports revenue and profit growth, says current trading is encouraging

Eckoh PLC (LON:ECK) has told investors that trading in the current financial year is encouraging, with revenue and profit comparable to the previous year as it posted its full-year results.

Financial results for the twelve months ended March 31, 2020, showed a 16% increase in revenue to £33.2mln, with gross profit marked at £26.3mln, up 9%, and pre-tax profit reported at £3.3mln, up 171%. The company ended March with £11.6mln of net cash.

The group, which handles secure payments and customer contact, said that notwithstanding the coronavirus (COVID-19) pandemic it is confident of its future prospects.

READ: Eckoh highlights significant demand for CallGuard product

In the results statement, Nik Philpot, Eckoh's chief executive said “the strength of Eckoh's performance, business model, market position and high recurring revenues, combined with our robust balance sheet and liquidity, means we are well placed to manage the impact of COVID-19, and we look forward to further progress in the year ahead."

"Eckoh had an excellent performance in the year, with double-digit revenue and profit growth as well as record order levels for a second year running. Both UK and US Operations delivered growth and we remain market leader in the US for Secure Payments with revenue growing substantially to over $8mln.

“Eckoh's product portfolio can help organisations to respond positively to the challenging times ahead, so we can assist both new and existing clients to fulfil their fast-evolving requirements,” Philpot added.

Quick facts: Eckoh PLC

Price: 67.5 GBX

AIM:ECK
Market: AIM
Market Cap: £171.31 m
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Eckoh PLC upbeat about its future and keen to build on progress in the US

Nik Philpot, chief executive of Eckoh PLC (LON:ECK), caught up with Proactive Investors to discuss the secure payments specialist's results for the year to the end of March 2018. US sales jumped by 32% in dollar terms in the year, though the recent recovery by the pound cut this growth to...

on 14/6/18

2 min read