Elecosoft revenues hold up in first half
Software developer Elecosoft said on Tuesday that unaudited revenues for the six months ended 30 June "held up well".
Construction & Materials
11,370.52
16:44 09/01/25
0.81%
91.85
Elecosoft Public Limited Company
141.00p
16:55 09/01/25
-1.05%
-1.50p
FTSE AIM All-Share
719.96
17:04 09/01/25
n/a
n/a
Elecosoft said its first-half sales were down just 4% year-on-year and pre-tax profits actually increased 23%. Adjusted pre-tax profits were up 14%.
The AIM-listed group also recorded strong cash flow in the period ended 30 June, which enabled it to improve the company's overall net cash position from £1.1m at 31 December to £4.4m.
Chairman John Ketteley said: "Elecosoft continued to perform well in the first half of 2020; and we will concentrate on increasing sales, improving our recurring income, and generating positive cash flow in the second half."
As of 1345 BST, Elecosoft shares were up 2.04% at 79.08p.