Chris Batterham, Chairman of Eckoh, will provide the following trading statement at the Company's AGM later today:
'Once again, I am pleased to report that the Company has seen a significant increase in revenue and margins during the first quarter of the new financial year and that current trading remains in line with market expectations.
Since announcing our year-end results in June, we continue to see positive new contract momentum being generated both organically and through our channel partners. This includes the recently announced three year contract win with Tenpin Limited to provide a broad range of Eckoh services for their bowling and family entertainment centres. We also today announce that we have won two three year contracts to provide payment services to a large financial institution and also a specialist provider of packaged account products and services in mobile handset protection. Coupled with the five multi-year contracts won in the second half of the prior financial year, revenue growth in the first quarter was extremely strong.
In June 2014 we announced that we had secured an exclusive agreement in the US with a leading US based provider of business process outsourcing and communication services. The early weeks of this arrangement have seen a significant amount of interest with a sales pipeline that exceeds the current existing pipeline in the UK. This has been supplemented by our direct sales activity in the US that has also seen some modest sized opportunities being won in recent weeks. We remain encouraged that the investment being undertaken in the US will result in significant profits for the Group in future periods.'
For further enquiries, please contact:
Nik Philpot, Chief Executive Officer
Adam Moloney, Group Finance Director
Tel: 01442 458 300