logo-loader
viewEckoh PLC

Eckoh shares higher as pipeline grows

communications350_5396d75a1d3f3.jpg

Eckoh (LON:ECK) shares edged higher as it posted another set of strong final results and said its business pipeline continues to expand.

The period saw the secure payments specialist, whose offerings include speech recognition technology, gain five multi-year contracts with large blue chip firms and the combined total of all new contracts was worth a minimum of £17mln.

It also comes hot off the heels of news yesterday, that it had secured a five year multi-million dollar tie-up with a US communications firm, underlining its acceleration of growth in the US.

For the year to end March, revenue was up 28% to £14mln compared to £11mln in 2013, while gross profit added 23% to £10.2mln (2013: £1.5mln).

The company is recommending a 25% increase in full year dividend to 0.3125 pence per share (2013: 0.25p a share).

Chief executive Nik Philpot told investors: "Our business pipeline continues to expand and the opportunities that now exist from our established channel partner network are significant. The launch of our US subsidiary is another important milestone for the group as we look to capitalise on our strong presence in the secure payment market in the UK."

He added: "We have started the new financial year well and expect to replicate the strong performance from previous years.  Our ongoing investment in both people and products will enable the group to continue to capitalise on a number of significant market opportunities."

Separately today, the group said it had been granted a patent for the transaction security method for its CallGuard product, which makes calls compliant with the latest industry standards.

Eckoh shares gained 1.94% to stand at 45.875p.

Quick facts: Eckoh PLC

Price: 50.749 GBX

AIM:ECK
Market: AIM
Market Cap: £128.91 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Eckoh PLC named herein, including the promotion by the Company of Eckoh PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Eckoh chief sees substantial growth in US market

Eckoh PLC (LON:ECK) notched up its third successive year of double digit percentage revenue and margin growth in the year to 31 March 2016. While the performance last year was impressive, the secure payment products and customer contact solutions provider is becoming increasingly...

on 06/14/2016

RNS

Half-year Report

2 days, 5 hours ago

Half Year Trading Update

3 weeks, 2 days ago

Holding(s) in Company

4 weeks, 1 day ago

Capital Markets Day

on 10/17/2019

Result of AGM

on 09/18/2019

2 min read