Elecosoft PLC Trading Update (4422Y)
May 09 2019 - 1:00AM
UK Regulatory
TIDMELCO
RNS Number : 4422Y
Elecosoft PLC
09 May 2019
For Release: 7:00am 09 May 2019
Elecosoft plc
("Elecosoft")
Trading Update for the Quarter to 31 March 2019
2019 started well. Unaudited management accounts for the quarter
ended 31 March 2019 showed that revenues increased by 20 per cent
(22 per cent at constant currency); and Profit Before Tax for the
quarter ended 31 March 2019 was higher than the Profit Before Tax
in the quarter ended 31 March 2018 and is in line with market
expectations. Elecosoft was also cash generative in the quarter,
and as at 31 March 2019, had net debt of GBP0.9m, compared with net
debt of GBP2.1m as at 31 December 2018.
John Ketteley, Executive Chairman said, "Elecosoft continues to
perform well reflecting both the international spread and strength
of our core construction and visualisation software businesses. We
have been encouraged by the trading performance of our recent
acquisitions in the UK and Germany and the opportunities for
realising synergies which we anticipated when acquiring these
businesses."
**Ends**
For further information, please contact:
Elecosoft plc Tel: +44 (0)20 7422 8000
John Ketteley, Executive Chairman
Jonathan Hunter, Chief Operating Officer
Ben Moralee, Finance Director
finnCap Ltd Tel: +44 (0)20 7220 0500
Geoff Nash / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
Newgate Communications Tel: +44 (0)20 3757 6880
Elisabeth Cowell / Fiona Norman
About Elecosoft plc
Elecosoft is a specialist international provider of software and
related services to the Architectural, Engineering, Construction
and Owner-Operator 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, and
cloud based digital marketing solutions. Elecosoft is listed on the
Alternative Investment Market in London (AIM: ELCO).
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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