Eckoh sees order levels grow 'substantially' in H1

Payment solutions provider Eckoh said on Monday that first-quarter order levels had "grown substantially" from the prior year.

Eckoh said it now expects first-half order levels to continue to be strong and "significantly higher" than the previous year, in line with expectations, due to "increasing demand" for its patented technology in the cloud.

Elsewhere, the AIM-listed group announced it had won a two-year contract worth a minimum of $1.3m with an unnamed global hotel company, with Eckoh set to provide a cloud solution to the new client, incorporating both voice payment security, digital payments, and advanced speech recognition.

"The solution is expected to go live in the second half of this financial year and in line with other cloud contracts will deliver higher levels of recurring revenue and margin," said Eckoh.

The group also said it had won a contract for voice payment security with the Irish division of one the world's largest insurance companies.

"The deal is worth a minimum of £600,000m over five years and it is expected that this will be one of the first clients to utilise the new enhanced cloud platform that has been developed through the 'Syntegration' project," said Eckoh.

As of 0840 BST, Eckoh shares were up 7.32% at 44.0p.

Reporting by Iain Gilbert at Sharecast.com