This is a good set of interims for the architectural and construction software supplier, showing sales and earnings growth assisted by FX moves and generating cash, which prompts an initial dividend declaration. Stripping out the sale of the Swedish architectural practice last December, on a LFL basis H1 revenue was up 10% YoY to £8.8m; although only 6% at constant currency. Encouragingly, 47% of the sales were recurring support & maintenance income. Because of that, gross margins f

21 Sep 2016
Building an international business

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Building an international business
Eleco Plc (ELCO:LON) | 83.5 0 0.0% | Mkt Cap: 69.5m
- Published:
21 Sep 2016 -
Author:
Cavendish Research -
Pages:
8 -
This is a good set of interims for the architectural and construction software supplier, showing sales and earnings growth assisted by FX moves and generating cash, which prompts an initial dividend declaration. Stripping out the sale of the Swedish architectural practice last December, on a LFL basis H1 revenue was up 10% YoY to £8.8m; although only 6% at constant currency. Encouragingly, 47% of the sales were recurring support & maintenance income. Because of that, gross margins f