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Pin to quick picksEckoh Technologies Regulatory News (ECK)

Share Price Information for Eckoh Technologies (ECK)

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Trading Update

1 May 2014 07:00

RNS Number : 9989F
Eckoh PLC
01 May 2014
 



For Immediate Release 1 May 2014

 

Eckoh plc

("Eckoh" or "the Company")

 

Trading Update

 

Eckoh plc (AIM: ECK), the UK's leading provider of multi-channel customer service and secure payment solutions,today announces that trading for the 12 months ended 31 March 2014 saw another period of strong progression with double digit growth in both revenue and margin, resulting in a substantial increase in adjusted* profit in line with market expectations.

 

The Company has performed strongly in the second half, leading to double digit organic growth for the full year supplemented by the acquisition of Veritape Limited in June 2013. We have been successful in winning a number of new contracts in the Travel, Logistics, Telecommunications and Retail sectors, the majority of which are clients within the FTSE100 and FTSE250. These new contracts will commence generating revenue in the coming year supporting growth expectations and this significant momentum has enabled Eckoh to maintain an excellent sales pipeline. This growth is also underpinned by continued traction within Eckoh's established product portfolio and more recently with additional sales growth from Veritape.

 

Elsewhere, progress since launching Eckoh, Inc. in February 2014 is encouraging. The U.S. market for secure payment solutions, which is less well developed than that of the UK, is now accelerating as a direct result of a vast data breach suffered by the retail company Target in December 2013. Whilst we already have a small but established client base in the U.S., management believe that a promising opportunity for incremental growth exists within this market.

 

Eckoh maintains a strong balance sheet position with a cash balance of £7.3 million as at 31 March 2014 (£8.5m at 31 March 2013) which further underpins the Company's investment in services, sales and marketing initiatives as well as keeping open more strategic growth options.

 

The board remain extremely confident of our future prospects and will be recommending a full year dividend of 0.3125p per share, an increase of 25% on the previous year.

 

The Company will announce its Full Year results for the year ended 31 March 2014 on 10 June 2014.

 

Nik Philpot, Chief Executive Officer of Eckoh, commented:

 

"We have had a strong second half winning some excellent new contracts as well as making good progress on our strategic plans to expand our footprint in the U.S market. The significant opportunity that we believe exists there following a shift in sentiment towards data security, combined with the breadth and flexibility of our established product portfolio, gives us every reason to be optimistic about the added scale that this market could bring to Eckoh.

 

We remain confident that Eckoh offers a unique proposition to our customers in a global market and alongside the sales opportunities we are working on with our channel partners in the UK we look forward to continuing to create further value for our shareholders."

 

*excluding amortisation of acquired intangible assets, acquisition costs and expenses relating to share based payments

Enquiries:

 

Eckoh plc

Nik Philpot, Chief Executive Officer

Adam Moloney, Group Finance Director

www.eckoh.com Tel: 01442 458 300

 

Buchanan

Jeremy Garcia, Gabriella Clinkard Tel: 020 7466 5000

 

N+1 Singer

Shaun Dobson, Matthew Thomas Tel: 020 7496 3000

 

Notes to Editors:

 

About Eckoh plc

 

Eckoh plc (AIM: ECK) is the UK's leading provider of multi-channel customer service and secure payment solutions. We are a PCI DSS Level One accredited Service Provider, currently processing over £300 million in card payments annually.

Eckoh's solutions enable payments, transactions and enquiries to be processed without the caller needing to talk to a contact centre agent. This significantly reduces our clients' costs, whilst freeing up their agents to deal with more complex enquiries. Eckoh is the largest provider of such hosted services in the UK.

Our secure and resilient infrastructure has the scalability to handle up to 8,000 calls simultaneously, which means that calls will always be answered no matter how unpredictable the circumstances.

For more information, visit: www.eckoh.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTSDIFMSFLSEIL
Date   Source Headline
17th Apr 20247:00 amRNSExpansion to global Secure Voice Cloud platform
19th Mar 20247:00 amRNSAchievement of Cyber Essentials Plus certification
18th Mar 20243:10 pmRNSHolding(s) in Company
12th Mar 20247:00 amRNSGlobal Partnership with RingCentral
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21st Nov 20237:00 amRNSHalf-year Report
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13th Sep 20233:41 pmRNSResult of Annual General Meeting
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22nd Jun 20237:00 amRNSGrant of Awards Under PSP
19th Jun 20237:00 amRNSEBT Share Dealings and TVR
16th Jun 202310:48 amRNSHolding(s) in Company
14th Jun 20237:00 amRNSFinal Results
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25th Apr 20237:00 amRNSFY23 Trading Update & Notice of Results
20th Apr 20237:00 amRNSLaunch of new cloud Secure Call Recording solution
31st Mar 202312:27 pmRNSDirectors' Dealing
9th Mar 20237:00 amRNSAppointment of Joint Broker
5th Dec 20225:04 pmRNSESPP Share Dealings
23rd Nov 20222:54 pmRNSEBT Share Dealings & Total Voting Rights
23rd Nov 20227:00 amRNSHalf-year Report
1st Nov 20227:00 amRNSHalf year trading update
6th Oct 20227:00 amRNSHalf Year Order Update ahead of CMD
26th Sep 20226:20 pmRNSResult of AGM
26th Sep 20227:00 amRNSAnnual General Meeting Statement
7th Sep 20229:05 amRNSHolding(s) in Company
22nd Aug 20223:40 pmRNSHolding(s) in Company
19th Aug 20229:00 amRNSExercise of Options &Total Voting Rights
16th Aug 20227:00 amRNS2022 Annual Report and Notice of AGM
15th Aug 20227:00 amRNSSignificant Cloud Contract Win and Order Update
21st Jul 202210:00 amRNSDirector/PDMR Shareholding
12th Jul 20227:00 amRNSNotice of Capital Markets Event
16th Jun 20228:00 amRNSEBT Share Dealing & Total Voting Rights
15th Jun 20228:00 amRNSHolding(s) in Company
15th Jun 20227:00 amRNSFinal Results
17th May 20227:00 amRNSFull year trading update
20th Apr 20227:00 amRNS5-year contract renewal with Capita worth £2.1m
5th Apr 20221:07 pmRNSHolding(s) in Company
4th Apr 20227:00 amRNSTrading Update and Product Update

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