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Pin to quick picksEckoh Technologies Regulatory News (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
27th Jan 20113:49 pmRNSNotification of Interest
17th Jan 201110:03 amRNSHolding(s) in Company
14th Jan 20117:00 amRNSDirector/PDMR Shareholding
22nd Dec 20107:00 amRNSEckoh secures contract for Premier Inn
14th Dec 20105:53 pmRNSNotification of Interest
15th Nov 20107:00 amRNSEckoh wins contract with Lead the Good Life
15th Nov 20107:00 amRNSInterim Results
8th Nov 20107:00 amRNSChange of Adviser
1st Nov 20107:00 amRNSNotification of Interim Results
1st Nov 20107:00 amRNSEckoh wins contract with RCI Financial Services
21st Oct 20109:54 amRNSHolding(s) in Company
21st Oct 20109:54 amRNSHolding(s) in Company
18th Oct 20107:00 amRNSHighest PCI DSS accreditation achieved
24th Sep 20104:13 pmRNSHolding(s) in Company
22nd Sep 201011:18 amRNSResult of AGM
22nd Sep 20107:00 amRNSAGM Trading and Business Update
20th Sep 20107:00 amRNSPayment of outstanding loan by Redstone
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13th Sep 201012:22 pmRNSUpdate on Redstone Loan Repayment
8th Sep 20104:06 pmRNSUpdate on Redstone's loan repayment
6th Sep 20107:00 amRNSEckoh wins contract with Utilita
24th Aug 20105:21 pmRNSPosting of Annual Report and AGM
24th Aug 20107:00 amRNSUpdate on Redstone's loan repayment
26th Jul 20107:00 amRNSEckoh wins contract with Enterprise Rent-A-Car
12th Jul 20107:00 amRNSIdeal Shopping Direct extends contract with Eckoh
2nd Jul 201011:34 amRNSDirector/PDMR Shareholding
21st Jun 20107:00 amRNSFinal Results
8th Jun 20107:00 amRNSNotice of Results
28th May 20107:00 amRNSClient IVR division merges with Telecom Express
30th Apr 20107:00 amRNSEckoh proves resilient in volcanic disruption
12th Apr 20107:00 amRNSEckoh wins contract with government agency
29th Mar 20107:00 amRNSEckoh expands presence in the water industry
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5th Mar 201011:58 amRNSDirector/PDMR Shareholding
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4th Mar 20104:53 pmRNSDirector/PDMR Shareholding
1st Mar 20107:00 amRNSEckoh secures renewal of William Hill contract
9th Dec 20097:00 amRNSInterim Results
3rd Dec 20091:44 pmRNSNotice of Results
16th Nov 200911:46 amRNSDirectorate Change
28th Oct 20092:30 pmRNSResult of AGM
28th Sep 20094:57 pmRNSReport and Accounts and Notice of AGM
17th Sep 20097:55 amRNSNew loan repayment terms with Redstone plc
11th Sep 20092:37 pmRNSDirectorate Change
4th Sep 20092:14 pmRNSResult of General Meeting
27th Aug 20093:00 pmRNSHolding(s) in Company
27th Aug 200912:43 pmRNSHolding(s) in Company
27th Aug 200912:22 pmRNSDirector Dealings

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