Eleco’s FY24 results show FY24 adjusted EBITDA +10% ahead of our previous forecast at £7.7m, EFCF of £5.2m or +9% ahead of our previous +56% upgrade in January, and proposed FY24 DPS of 1.0p +11% ahead of our previous forecast. FY24 revenue growth of +16% includes group organic growth of +10%, which is the strongest level of organic growth since FY19 and reflects excellent execution of the final phase of the SaaS migration, where FY24 recurring revenue growth of +20% to £24.9m has driven recurri ....
