AGM Statement and Trading Statement
18 Sept 2019
Eckoh plc (AIM: ECK), the global provider of secure payment products and customer contact solutions, is holding its Annual General Meeting at 11.00 a.m. today.
The Board is pleased to announce that trading is in line with expectations for the full year, reflecting good revenue growth in both the UK and US, and there has been an encouraging level of business contracted.
In the US, the Company have won several new Secure Payment contracts from predominantly the retail and healthcare sectors, that are a combination of on-site and cloud deployments. New client wins notably include another Fortune 100 retailer, which was won in a competitive process, underlining Eckoh’s market leading position and success in winning Secure Payment agreements with the largest US enterprises.
As previously announced on 1 July 2019, Eckoh secured a three-year contract to provide the agent desktop product Coral, extending our relationship with a Fortune 100 telecommunications company. The contract is worth a minimum of $3.8m, and of this, $2.1m will be recognised in the first half income statement. Consequently, while the Company expects revenue growth in both the first and second half, the first half is expected to have a greater weighting this financial year.
The Group's financial position remains strong and management remain confident of further progress in the second half of the year.