The FY20 results were slightly ahead of our expectations set with the January update. They show Eleco handled COVID well; the solid base of recurring revenue from its broad international userbase of blue chips, as well as a rapid switch to online services, maintained revenue levels and gross margins. Eleco thus saw 15% YoY Adj. PBT growth from a lower cost base due to reduced travel and marketing in lockdown. Cash generation has been particularly strong, up £5.1m to an impressive £6.2m net cash ....
31 Mar 2021
Eleco - New management highlights a customer-centric future
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Eleco - New management highlights a customer-centric future
Eleco Plc (ELCO:LON) | 92.5 0 0.0% | Mkt Cap: 77.0m
- Published:
31 Mar 2021 -
Author:
Cavendish Research -
Pages:
16
The FY20 results were slightly ahead of our expectations set with the January update. They show Eleco handled COVID well; the solid base of recurring revenue from its broad international userbase of blue chips, as well as a rapid switch to online services, maintained revenue levels and gross margins. Eleco thus saw 15% YoY Adj. PBT growth from a lower cost base due to reduced travel and marketing in lockdown. Cash generation has been particularly strong, up £5.1m to an impressive £6.2m net cash ....