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Trading Update

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 £0.9m, compared with net debt of £2.1m 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).

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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