As confirmed in the last month’s update, FY 2019 showed good growth in turnover, profit and cash generation. The cashflow swung ELCO from opening net debt of £1.8m to net cash of £1.1m at the December YE, despite paying an interim dividend. Sensibly, there will be no final dividend in order to conserve cash. FY 2020 is an unknown; ELCO traded well in Q1 but is seeing disruption from Q2. Management has swiftly taken mitigating steps (WFH and providing services online) and cos
11 May 2020
Elecosoft - 2019 saw continued growth but COVID clouds 2020
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Elecosoft - 2019 saw continued growth but COVID clouds 2020
Eleco Plc (ELCO:LON) | 96.0 0 0.0% | Mkt Cap: 79.9m
- Published:
11 May 2020 -
Author:
Cavendish Research -
Pages:
14
As confirmed in the last month’s update, FY 2019 showed good growth in turnover, profit and cash generation. The cashflow swung ELCO from opening net debt of £1.8m to net cash of £1.1m at the December YE, despite paying an interim dividend. Sensibly, there will be no final dividend in order to conserve cash. FY 2020 is an unknown; ELCO traded well in Q1 but is seeing disruption from Q2. Management has swiftly taken mitigating steps (WFH and providing services online) and cos