StockMarketWire.com - Secure payment products providor Eckoh said pre-tax profit grew 50% in the year through March, supported by revenue and margin growth.

In the 12 months to 31 March, pre-tax profit jumped 50% to £2.4m from £1.6m the previous year, revenue rose 3.2% to £30.0m and adjusted operating profit grew 21.9% to £5.3m.

Revenues were supported by strong performance from the company's US division, which reported a 14% increase in revenue to £11m. That helped offset a 2% fall in UK revenue as implementation fees weighed.

Adjusted operating margins rose 290 basis points to 17.7% from 14.8%.

The firm proposed a full year dividend of 0.55p per share, up 15% from 0.48p.

'The new financial year has started in line with expectations, with the group continuing to scale US operations, and seeing early benefits from an improved UK sales performance, continuing the momentum from the second half of the 2018 financial year,' the company said.

At 9:57am: [LON:ECK] Eckoh PLC share price was -3p at 39.25p



Story provided by StockMarketWire.com