In FY15 Eckoh achieved another year of strong growth, while continuing to invest in building out its US business. Eckoh’s partner strategy continues to deliver new customers, and in the US could yield material contracts this year. The company is keen to drive growth from its existing customer base through cross-selling and has put in place initiatives to support this. We forecast EPS growth of 15% in FY16 and 19% in FY17. While the valuation looks full, successful execution of the growth strategy could drive upside.