Escher Group sees FY earnings at around $2.8m

Dublin-based software company Escher Group said on Friday that full-year revenue is expected to be marginally ahead of the $18m forecast in the trading update in November, while adjusted earnings before interest, tax, depreciation and amortisation will be around $2.8m.

As previously indicated, the company said it will incur exceptional costs of approximately $300,000 to complete the restructuring that was kicked off in 2016.

Escher, which is due to release its full-year results in the week beginning 6 March, finished the year in a net positive cash position, despite the absence of any major one-off licence sales in 2017 and the costs incurred from the exploration of routes to market for the group's licensing and permitting technologies.

Chief executive Liam Church said: "We have now structured the business to produce solid EBITDA returns and to generate cash, even in the absence of a major, one-off licence sale."

At 1435 GMT, the shares were up 1.9% to 135p.