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.
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.