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Final results for year ended March 2014
Tuesday, 05 August 2014

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Eckoh plc (AIM: ECK), is pleased to announce its final results for the year ended 31 March 2014.

Financial Highlights:

  • Revenue up 28% to £14.0m (FY13: £11.0m)

  • Gross profit up 23% to £10.2m (FY13: £8.3m)

  • Adjusted* Operating profit increased by 48% to £2.2m (FY13: £1.5m)

  • EBITDA** increased by 32% to £3.2m (FY13: £2.4m)

  • Cash generated from operating activities increased by 91% to £4.8m (FY13: £2.5m)

  • Cash and short term investment balance remains strong at £7.3m (FY13: £8.5m) following £3.6m cash outflow from acquisition of Veritape Limited ('Veritape') in June 2013

  • The Board recommends a 25% increase in full year dividend to 0.3125 pence per share for the year ended 31 March 2014 (FY13: 0.25 pence per share)

Operational Highlights:

  • Strong trading performance from both core Eckoh business and Veritape

  • Combined hosted and on-site payments proposition driving significant sales opportunities in the UK and internationally

  • Capita partnership gaining market traction

  • New client mandates include Yodel and Telefonica UK (O2)

  • New payment contracts secured in the period include 5 multi-year contracts with large blue-chip companies, combined new contracts worth a minimum of £17m in value.

  • 100% renewal of 12 clients with contracts expiring in the period, including Affinity Water, Barclays, Utilita, BAA and two government agencies

  • US opportunity to provide secure payment solutions continues to gather significant momentum

  • Subsidiary trading entity Eckoh Inc. is now in operation and US website now live - http://www.eckoh.us/

Current Trading:

  • 5-year Exclusive Distributor Agreement with large US partner

  • Patent awarded for Eckoh CallGuard product

For more information contact

Nik Philpot, Chief Executive Officer

01442 458300