× Globe

We notice that you’re on our UK site, the version that serves your region is the US Eckoh site.

Go to US site. Stay on UK site

News

Latest news and announcements

Half Year Trading Update
Tuesday, 29 October 2019

Eckoh, the global provider of secure payment products and customer contact solutions, announces a trading update for the six months ended 30 September 2019.

Eckoh, the global provider of secure payment products and customer contact solutions, announces a trading update for the six months ended 30 September 2019.  Figures relate to this period, unless otherwise stated.

The Board is pleased to announce that trading for the six-month period was in line with expectations.  It has been a very strong first half to the year with excellent levels of contracted business and double-digit revenue growth in both the UK and US.

The US business continues to perform strongly, and total business contracted was $14.4m (H1 2019: $12.5m), an increase of 15% year on year, which was an impressive result given that the prior half year comparator included our largest ever contract valued at $7.4m. 

We continue to have excellent momentum in our US Secure Payments business, with ongoing success in the retail and healthcare sectors and we have recently won our first client in the gaming sector. The pipeline for the second half of the year is encouraging, reflecting the long-term structural drivers for our Secure Payments products: tightening regulation, and the growing risk of data breaches and fraud within challenging parts of our clients’ businesses.  

In the UK, total business contracted was £7.9m, an increase of 8% year on year.  In the period we had strong renewals in the UK with our existing clients and we continue to maximise client value through cross-selling. Our new UK business is increasingly coming from sales delivered through our recently launched Eckoh Experience Portal (“EXP”) which enables organisations to purchase our Customer Engagement and Secure Payment solutions in a modular fashion.

As announced on 1 July 2019, we secured a contract extension with a Fortune 100 telecommunications company for our agent desktop tool Coral.  The contract is worth a minimum of $3.8m, and of this, $2.1m will be recognised in this six-month period. Consequently, while the Company expects revenue growth to continue in the second half, the first half is expected to have a greater weighting this financial year. 

The Group's financial position remains robust with net cash of £10.9m at 30 September 2019 (30 September 2018: net cash of £3.4m), and management remain confident of further progress in the second half of the year.

The Group will report its results for the six months ended 30 September 2019 on Tuesday, 19 November 2019.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

 

pdf DOWNLOAD AS PDF (104 KB)

For more information, please contact:

Eckoh PLC
Nik Philpot, Chief Executive Officer
Chrissie Herbert, Chief Financial Officer
Tel: +44 (0) 1442 458 300
www.eckoh.com

FTI Consulting LLP
Ed Bridges / Jamie Ricketts / Darius Alexander
Tel: +44 (0) 203 727 1000
This email address is being protected from spambots. You need JavaScript enabled to view it.

N+1 Singer (Nomad & Joint Broker)
Shaun Dobson, Justin McKeegan
Tel: +44 (0) 20 7496 3000
www.n1singer.com

Canaccord Genuity Limited (Joint Broker)
Simon Bridges, Andrew Potts
Tel: +44(0) 20 7523 8000
www.canaccordgenuity.com

About the Author

Chrissie Herbert

Chrissie Herbert

Chief Financial Officer Chrissie joined the company in May 2017 from PayPoint plc, the FTSE 250 retail technology and multi-channel payment solutions business. Her career has brought significant industry insights and experience from one of the leading global secure payments companies. In addition, having qualified as a Chartered Accountant at KPMG, Chrissie has considerable executive experience at a number of high growth, consumer facing businesses including Collect+, a fast-growing joint venture between PayPoint plc and Yodel and Travelodge Hotels Ltd.
Connect with us on LinkedIn

Tweets by @Eckoh

Eckoh (@Eckoh)

Eckoh (@Eckoh)

With Eckoh's Web Chat solution, you can help multiple customers at once in real-time. Many customers prefer the immediacy of #webchat and many won’t buy if there is no chat available. eckoh.com/customer-engag… #customerservice
Eckoh (@Eckoh)

Eckoh (@Eckoh)

We are looking for an experienced senior Marketing professional to join our team in Hemel Hempstead as Head of Marketing. We offer a salary of £70,000 - £75,000, excellent benefits and a superb working environment! Apply today: bit.ly/2Je3Fb1 #careers #jobopportunity
Eckoh (@Eckoh)

Eckoh (@Eckoh)

𝗡𝗘𝗪𝗦: Eckoh comments on the recently released Verizon Payment Security Report 2019, which highlights the disappointing drop in PCI DSS compliance for the second year in a row. Compliance now stands at just 36.7% worldwide. Read more: bit.ly/2Kja1WW #PCIDSS #Verizon

  • icon facebook
  • icon twitter
  • icon linkedin
  • icon youtube

Latest News Items