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Eckoh on track to deliver 'good' revenue growth

Eckoh said its financial position remains strong and it is confident of further progress in the second half of the year

Eckoh PLC -

Eckoh PLC (LON:ECK) said trading is in line with expectations for the full year with “good” revenue growth in the UK and the US.

In a statement ahead of its annual general meeting, the secure payments firm said it has seen an “encouraging level” of business contracted.

Several new secure payments contracts have been won in the US from the retail and healthcare sectors, including a US$3.8mln deal with Fortune 100 telecommunications company Coral.

Under the three-year contract with Coral, Eckoh will provide its agent desktop product to the company. Eckoh said US$2.1mln of the total value of the contract will be recognised in the first half, meaning annual revenue growth will be weighted towards that period.

“The group's financial position remains strong and management remain confident of further progress in the second half of the year,” it said.

Quick facts: Eckoh PLC

Price: 48.5 GBX

AIM:ECK
Market: AIM
Market Cap: £123.19 m
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