logo-loader
viewEckoh PLC

Eckoh rises as it reports "another record year"

The secure payments specialist reported 10% growth in its order book to £35.9mln for the year ended March 31

Eckoh PLC - Eckoh reports "another record year" as orders rise

Eckoh PLC (LON:ECK) has reported “another record year” for its business with double-digit revenue growth across the group.

In an update for the year ended March 31, 2020, the secure payments specialist said trading for the period had been “in line with market expectations” with revenue growth across both its UK and US businesses. The group also reported record order levels for the year with 10% growth to £35.9mln.

WATCH: Eckoh PLC 'well placed to emerge unscathed from crisis'

In the US, Eckoh said it had continued to benefit from its position as “the preferred supplier for large enterprises to secure payment data in their contact centre operations”, adding that its sale pipeline remained “extremely strong” despite the coronavirus outbreak delaying the conclusion of some “significant deals” beyond March 31.

The company also said its UK business had seen significantly higher order levels in the second half of the year as a number of larger contracts renewed earlier than scheduled.

Looking ahead, Eckoh withdrew its guidance for the year due to the disruption caused by the coronavirus pandemic, although it said it remained “confident” for its future prospects and that it had maintained its service levels.

“Eckoh's business model and market position means we are well placed to manage the impact of [coronavirus] on our clients' businesses, with high levels of recurring revenue…a record order book, blue-chip enterprise clients and a strong balance sheet”, the firm said in the statement.

The shares were up 1% at 48.5p in early trading on Thursday.

--Adds share price--

Quick facts: Eckoh PLC

Price: 56 GBX

AIM:ECK
Market: AIM
Market Cap: £142.17 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 PLC 'well placed to emerge unscathed from crisis'

Eckoh PLC's (LON:ECK) Nik Philpot tells Proactive London's Andrew Scott remote working for the business has gone 'extremely well' and adds that the US business has had little impact as it has essentially been working remotely from the start. ''Like other businesses we'll probably be...

on 15/4/20

2 min read