Escher Group Holdings PLC Half year trading update (6564M)
August 01 2017 - 2:00AM
UK Regulatory
TIDMESCH
RNS Number : 6564M
Escher Group Holdings PLC
01 August 2017
1 August 2017
Escher Group Holdings plc
Half-year trading update
Escher Group Holdings plc (AIM: ESCH, "Escher" or the "Group"),
a world leading provider of outsourced point-of-service software
for use in the worldwide postal, retail and financial industries,
publishes a trading update for the six months to 30 June 2017 and
maintains its financial expectations for the full year.
Group revenues will total approximately US$9.4m for H1 2017 (H1
2016: US$12.3m). Adjusted EBITDA* is expected to be approximately
US$1.4m (H1 2016: US$3.4m).
Recurring revenues now represent 64% of the Group's turnover (H1
2016: 52%) which demonstrates the ongoing evolution of the
business. These revenues underpin Escher's profitability.
As expected, one-off software licence sales in H1 2017 were
lower than in H1 2016 while maintenance and service revenues remain
buoyant as the Group transitions towards a recurring revenue
model.
The Group has continued to invest in new product areas and
operations, specifically in exploring the possibility of adding a
second "leg" to the business in the activity of Licensing and
Permitting platforms.
Net cash at 30 June 2017 was US$0.1m (31 December 2016:
US$0.1m).
Liam Church, CEO Escher Group, commented:
"As anticipated, our licence sales in the first half were modest
as compared to those of H1 2016. Nevertheless, the strength of our
recurring and repeating revenue streams enabled us to deliver
US$1.4m in adjusted EBITDA.
"Overall, our pipeline of business for H2 2017 gives the Board
confidence that expectations for the full year are
deliverable."
The Group expects to publish its half-year results for the six
months ended 30 June 2017 in mid-September.
*Operating profit before, depreciation, amortisation, share
based payments and exceptional items.
Enquiries:
Escher www.eschergroupholdings.com +353 (0)1 254 5400
Liam Church, Chief Executive
Officer
Fionnuala Higgins, Chief Commercial
Office
Panmure Gordon +44 (0)20 7886 2500
Andrew Godber / Alina Vaskina,
Corporate Finance
Erik Anderson, Corporate Broking
Instinctif Partners +44 (0)20 7457 2020
Adrian Duffield / Chris Birt
About Escher Group
Escher is a world-leading provider of outsourced,
point-of-service software for use in the worldwide postal, retail
and financial industries. Its core software, Riposte(R) , a
Transaction Services Platform, enables our customers to expand
their offerings, providing new services, reducing costs and
increasing efficiency. The Riposte(R) Platform securely extends the
retail branch network. Our technology creates new revenue
opportunities, streamlines operations, and its flexibility allows
it to be deployed across multiple platforms and devices, giving the
ultimate freedom of choice when it comes to channel and hardware
selection. Our focus is to ensure the success of our customers by
delivering the very best in innovative technology for their
business.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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