Esker has reported Q416 and FY16 revenues in line with our forecasts. Strong growth in new contracts combined with c 80% recurring revenues support continued growth and the company expects to generate double-digit organic revenue growth in FY17. We leave our forecasts unchanged pending full-year results in March. We note that Esker had net cash of €15.9m at the end of FY16, providing ample funds for investment to drive growth.
19 Jan 2017
Q416 in line, positive outlook for FY17
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Q416 in line, positive outlook for FY17
Esker has reported Q416 and FY16 revenues in line with our forecasts. Strong growth in new contracts combined with c 80% recurring revenues support continued growth and the company expects to generate double-digit organic revenue growth in FY17. We leave our forecasts unchanged pending full-year results in March. We note that Esker had net cash of €15.9m at the end of FY16, providing ample funds for investment to drive growth.