(Alliance News) - Construction software developer Elecosoft PLC said Tuesday its 2019 results are expected to be ahead of the prior year and in line with market expectations.
For 2018, Elecosoft reported revenue growth of 11% to GBP22.2 million, pushing pretax profit up by 7.7% to GBP2.4 million.
The group also said it had significantly improved its cash generation during the year.
"Elecosoft remained resilient throughout 2019 despite adverse exchange rate movements and delays and hesitations occasioned by Brexit in the placing of orders by companies in the construction, manufacturing and retail sectors, all of which are served by Elecosoft," said Executive Chair John Ketteley.
"I am sure that shareholders will be particularly grateful to our employees this year for their continuing dedication and outstanding performance in such difficult trading conditions," Kettleley added.
Shares in Elecosoft - which is based in Haddenham - were down 0.6% at 86.50 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Elecosoft (ELCO)