StockMarketWire.com - Eckoh's revenues rose by 30% to £29.1m in the year to the end of March with US operations up by 145% to £9.7m.

Gross profit increased 21% to £20.3m and adjusted EBITDA rose to £5.8m (FY16: £5.4m).

Adjusted operating profit rose to £4.3m (FY16: £4.1m) despite a £0.7m loss made by a discontinued division of acquired subsidiary, Product Support Solutions Inc and the transition to a recurring revenue model in the US.

The board had proposed a final dividend proposed of 0.48p per share (FY16: 0.45p).

Chief executive Nik Philpot said: "We are delighted to report the fourth successive year of double digit revenue and gross profit growth for Eckoh, largely driven by a breakthrough year in the US.

"One third of the Group's revenue is now generated from this large and growing market.

"The record levels of contract wins and pipeline growth, combined with an effective transition to recurring revenue pricing and a market-leading product portfolio, gives us a strong platform on which to further expand our presence in the US.

"Our UK business also continues to grow and has been enhanced by the addition of K2C.

"With over 75% of Group revenue already recurring, the board believe Eckoh is well positioned for further significant growth over the coming years."








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