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Eckoh PLC

Eckoh bullish as revenue growth tops 20%

The company signed nine new contracts for its secure payments products during the year to March just ended.

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Sales pipeline is just as full says Eckoh

Eckoh PLC (LON:ECK) has seen sales and margins grow by more than 20% for a third year in succession, driven by growth in the US for its secure payment software. 

The company, which also provides call centre software, signed nine new contracts for its secure payments products during the year to March just ended.

US partner, West Corporation, signed its first contract with the retail subsidiary of a major global media and entertainment group in January, while recent US call centre acquisition PSS also chipped in for four months. 

In the UK, contracts wins have included Thames Water and a new five-year contract with existing customer Ideal Shopping Direct. 

Eckoh launched a tokenisation payment system in May, which has seen good interest it said and the increased need for data security will underpin sales, it said. 

Nik Philpot, chief executive, said the company had made great strides over the past year.

Significant future growth is expected from the US, while new client wins and a patent for its tokenisation system has strengthened the UK business, he added.

“With interest growing globally for our solutions our sales pipeline is stronger than ever going into the new financial year."

Revenues in the previous trading year,  to March 2015, rose by 22% to £17.2mln.

Quick facts: Eckoh PLC

Price: £0.49

Market: AIM
Market Cap: £123.19 m
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