Eckoh PLC Trading Update (8786Y)
May 14 2019 - 1:00AM
UK Regulatory
TIDMECK
RNS Number : 8786Y
Eckoh PLC
14 May 2019
14 May 2019
Eckoh plc
("Eckoh", the "Group" or the "Company")
Trading Update
Eckoh, the global provider of secure payment products and
customer contact solutions, today issues a trading update for the
year ended 31 March 2019.
The Board of the Company confirms that trading for the year
ended 31 March 2019 was in line with market expectations, with
revenue growth in both the UK and US divisions. Following a very
strong first half to the year for new business wins, Eckoh
delivered double digit new business growth in both divisions in the
second half.
In the US, the Secure Payments order book has continued its
strong momentum with new contract value growing by 47% to $13.7m in
the twelve-month period (FY18: $9.3m). This reflects new wins in
the healthcare, insurance, telecoms and retail sectors, and
includes contracts to be delivered both on-site and in the Cloud.
Support and Coral have as expected both returned to growth in the
second half.
The UK had a strong year, with total contract value from new
business and renewals more than doubling on the previous year. The
largest Omnichannel agreement, since the acquisition of
Klick2Contact in 2016, was won through Capita in the second half
and the indirect sales channel performed well overall.
There was strong cash generation during the period and Eckoh's
balance sheet remains robust with net cash of GBP8.3m at the period
end (2018: GBP3.6m).
The Group has an excellent sales pipeline and continues to see
momentum with larger-scale opportunities at enterprise level in
both divisions.
The Group will report its audited results for the year ended 31
March 2019 on Wednesday 12 June 2019.
For further information please contact:
Eckoh plc
Nik Philpot, Chief Executive Officer Tel: 01442 458
300
Chrissie Herbert, Chief Financial Officer
www.eckoh.com
FTI Consulting LLP Tel: 020 3727 1000
Ed Bridges / Jamie Ricketts / Darius Alexander
eckoh@fticonsulting.com
N+1 Singer (Nomad & Joint Broker)
Shaun Dobson / Justin McKeegan Tel: 020 7496 3000
www.n1singer.com
Canaccord Genuity Limited (Joint Broker)
Simon Bridges / Emma Gabriel Tel: 020 7523 8000
About Eckoh plc
Eckoh is a global provider of secure payment products and
customer contact solutions, supporting an international client base
from its offices in the UK and US.
Our secure payments products help our clients take payments
securely from their customers through multiple channels. The
products, which include the patented CallGuard, can be hosted in
the Cloud or deployed on the client's site and remove sensitive
personal and payment data from contact centres and IT environments.
They offer merchants a simple and effective way to reduce the risk
of fraud, secure sensitive data and become compliant with the
Payment Card Industry Data Security Standards ("PCI DSS") and wider
data security regulations. Eckoh has been a PCI DSS Level One
Accredited Service Provider since 2010, securing over $2bn in
payments annually.
Eckoh's customer contact solutions enable enquiries and
transactions to be performed on whatever device the customer
chooses, allowing organisations to increase efficiency, lower
operational costs and provide a true Omnichannel experience. We
also assist organisations in transforming the way that they engage
with their customers by providing support and transition services
as they implement our innovative customer contact solutions.
Our large portfolio of clients come from a broad range of
vertical markets and includes government departments, telecoms
providers, retailers, utility providers and financial services
organisations.
For more information go to www.eckoh.com or email Media
ResponseUK@eckoh.com
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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