Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Eleco PLC on Thursday announced strong growth in revenue in the last six months, with ‘positive momentum’ in its trading performance.
Eleco is a London-based software provider focused on the construction and built environment sectors.
Eleco said recent in the six months that ended June 30 was £16.3 million, up 20% from £13.5 million a year before. In constant currency terms, the increase was 21%, it said, while the organic growth rate was 12%.
Annual recurring revenue was £25.8 million on June 30, up 31% from £19.7 million a year before.
The firm said it ended the half with £12.0 million cash, up from £9.4 million a year ago.
Chief Executive Officer Jonathon Hunter commented: ‘Eleco is well positioned in an attractive market that is increasingly utilising technology to meet the demands of the built environment’.
Eleco shares were up 12% to 131.50 in London on Thursday afternoon.
Copyright 2024 Alliance News Ltd. All Rights Reserved.