StockMarketWire.com - Eckoh, the global provider of secure payment products and customer contact solutions, posts adjusted operating profit of £4.1m for the year to the end of March - 22% up on last time.

Revenue increased 31% to £22.5m with revenue from the US increasing from £0.2m to £4.0m. UK recurring revenue is now 79% of total revenue (2014/5: 76%).

Gross profit increased 29% to £16.8m (2014/5: £13.1m) and adjusted EBITDA rose 20% to £5.4m.

The board is recommending a 20% increase in full year dividend to 0.45 pence per share (FY15: 0.375 pence per share).

Chief executive Nik Philpot said: "For the third successive year Eckoh is delighted to report double digit revenue and margin growth, reflecting in particular a year of tremendous progress in the US market. Not only have we seen the first major contracts coming through from our partnership with West but the acquisition of PSS in November 2015 has really accelerated our growth.

"The addition of PSS has meant that we now are able to offer both Secure Payments and Customer Contact solutions in the US as we do in the UK. The benefit of having an end-to-end and comprehensive solution set that allows us to both support and advise organisations as they transition and secure their contact centre infrastructure has been self-evident in the progress we have made in recent months, including winning significant contracts in both product areas in each of our key markets.

"The contracts secured recently, which will deliver significant benefit once live in the second half of the new financial year, give us the confidence that the strong growth we have consistently delivered in the past few years will continue. The Board remains excited by the prospects for the Company and continues to evaluate opportunities for scaling the business even further alongside our organic growth."










Story provided by StockMarketWire.com