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ESCH - Escher Group News Story

189.5p 0.0  0.0%

Last Trade - 15/11/17

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £14.2m
Position in Universe th / 1808

Escher Group Hldgs - Year-end trading update

Thu 12th January, 2017 7:00am
RNS Number : 9508T
Escher Group Holdings PLC
12 January 2017

12 January 2017

Escher Group Holdings plc

Year-end trading update

Escher Group Holdings plc (AIM: ESCH, "Escher" or "the Group"), a world leading provider of outsourced, point of service software for use in the postal, retail and financial industries, publishes a trading update for the year to 31 December 2016.

Group adjusted EBITDA* is expected to be in line with market expectations

Strong cash generation throughout 2016 resulted in Escher achieving a small net positive cash position at year end (net debt at 31 December 2015: $2.7m)

Progress continued in developing subscription and maintenance revenues. Recurring revenue streams represented approximately 50% of turnover in 2016.Licensing revenues will continue to be uneven and difficult to forecast, as most postal customers require one-off licensing agreements.

Escher expects to publish its full year results in the week commencing 6 March 2017.

Liam Church,Escher's Chief Executive, commented:

"Major customer deployments in 2014 and 2015 created recurring, cash-generating, revenue streams which underpin the results in 2016 and going forward. We also arrived at a net cash-positive position.

"Looking forward, the tendency of major customers to look to us as a trusted adviser to accompany them in the evolution of their businesses, should allow us to continue to build further our recurring revenues."

* Operating profit before, depreciation, amortisation, share based payments and exceptional items.

Market abuse regulation

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:

Escher www.eschergroupholdings.com

+353 (0)1 254 5400

Liam Church, Chief Executive Officer

Clem Garvey, Chief Financial Officer




Panmure Gordon

+44 (0)20 7886 2500

Andrew Godber/Alina Vaskina, Corporate Finance


Erik Anderson, Corporate Broking


Instinctif Partners

+44 (0)20 7457 2020

Adrian Duffield/Lauren Foster



This information is provided by RNS
The company news service from the London Stock Exchange
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