TIDMESCH

RNS Number : 9170E

Escher Group Holdings PLC

22 July 2016

22 July 2016

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 2016.

Revenue is expected to be in the order of US$12.3m for the half year (H1 2015: US$11.8m), up by 4%. Adjusted EBITDA* is expected to increase by 25% to approximately US$3.4m for the same period (H1 2015: US$2.7m).

The Group has continued to invest in new product areas and operations. Net debt at 30 June 2016 was US$2.7m (31 December 2015: US$2.7m).

Liam Church, Escher's Chief Executive, commented:

"Our recent contract win with Vietnam Post was a strong contributor to H1 EBITDA and demonstrates our continuing ability to win new business in our core postal market. The closing of this contract, allied to increasing maintenance and support revenues, has resulted in a solid first half."

The Group expects to publish its half year results for the six months ended 30 June 2016 in mid-September.

* Operating profit before, depreciation, amortisation, share based payments and exceptional items.

Enquiries:

 
 Escher                             +353 (0)1 254 5400 
 Liam Church, Chief Executive 
  Officer 
  Clem Garvey, Chief Financial 
  Officer 
 
 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 / Lauren 
  Foster

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

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