Elecosoft PLC Trading Update (8940O)
June 04 2020 - 2:00AM
UK Regulatory
TIDMELCO
RNS Number : 8940O
Elecosoft PLC
04 June 2020
4 June 2020
Elecosoft plc
("Elecosoft")
Trading update for the four-month period ended 30 April 2020
The Board of Elecosoft announces that Unaudited Management
Accounts of Elecosoft for the period ended 30 April 2020 showed
that:
i. Revenues decreased in the period by 3 per cent (2 per cent at
constant currency) compared to the same period in 2019,
ii. Recurring maintenance, support and subscription revenues for
the period were 6 per cent higher than the previous year
equivalent; and that,
iii. Profit before Tax increased in the period by 25 per cent.
iv. Elecosoft was also cash generative in the period and it had
a net cash position of GBP3.1m at 30 April 2020 compared with its
net cash position of GBP1.1m at 31 December 2019.
Executive Chairman, John Ketteley, commented:
"The thorough planning, initiative and rapid response of our
employees in dealing with the Coronavirus disruption meant that
within less than two weeks all our business units had beg u n home
working and had switched to the online delivery of training,
consultancy and support services to our customers. T he initiatives
taken by all my colleagues in every business unit of the Elecosoft
Group made a vital contribution to our dealing successfully with
the unprecedented disruption to our operations threatened by the
Covid-19 outbreak and we thank them all."
For further information, please contact:
Elecosoft plc Tel: +44 (0)20 7422 8000
John Ketteley, Executive Chairman
Jonathan Hunter, Chief Operating Officer
Ben Moralee, Group Finance Director
finnCap Limited Tel: +44 (0)20 7220 0500
Geoff Nash/ Kate Bannatyne (Nomad)
Camille Gochez (ECM)
Newgate Communications Tel: +44 (0)20 3757 6880
Elisabeth Cowell/ Isabelle Smurfit elecosoft@newgatecomms.com
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
About Elecosoft plc
Elecosoft is a specialist international provider of software and
related services to the Architectural, Engineering, Construction
and Owner/Operator (AECO) industries and digital marketing
industries from centres of excellence in the UK, Sweden, Germany
and the US. Elecosoft's market leading software solutions are
developed by teams in the United Kingdom, Sweden and Germany; and
its software solutions cover project management, construction site
management, estimating, timber engineering, 3D design and
visualisation, property management and cloud based digital
marketing solutions. Elecosoft is listed on the Alternative
Investment Market in London (AIM: ELCO).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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