Elecosoft has reported a solid set of H1 2019 results in a challenging market environment. In light of the H1 results, we have reduced our FY 2019 forecasts but maintain our FY 2020 EBIT and EPS expectations. In H1 2019, revenue grew +20% to £12.7m (+22% at constant currencies), adj. EBIT grew +17% to £2.2m, and FCF was flat at £2.1m. Operationally, ELCO has made good progress in H1 with the latest release of core solution Powerproject XV; a UK government listing on the G-Cl
25 Sep 2019
Elecosoft - Strong H1 growth in a challenging environment
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Elecosoft - Strong H1 growth in a challenging environment
Eleco Plc (ELCO:LON) | 92.5 0 0.0% | Mkt Cap: 77.0m
- Published:
25 Sep 2019 -
Author:
Cavendish Research -
Pages:
14
Elecosoft has reported a solid set of H1 2019 results in a challenging market environment. In light of the H1 results, we have reduced our FY 2019 forecasts but maintain our FY 2020 EBIT and EPS expectations. In H1 2019, revenue grew +20% to £12.7m (+22% at constant currencies), adj. EBIT grew +17% to £2.2m, and FCF was flat at £2.1m. Operationally, ELCO has made good progress in H1 with the latest release of core solution Powerproject XV; a UK government listing on the G-Cl