Financial Highlights
  • Revenue up 20% to £12,711,000 (2018 H1: £10,554,000); up 22% at constant exchange rates

  • Operating profit up 40% to £1,746,000 (2018 H1: £1,250,000)

  • Adjusted operating profit* up 20% to £2,138,000 (2018 H1: £1,784,000)

  • Basic earnings per share up 33% to 1.6p (2018 H1: 1.2p)

  • Adjusted earnings per share* up 11% to 2.0p (2018 H1: 1.8p)

 

(* Adjusted profit measures exclude acquisition and corporate finance related costs and amortisation of acquired intangible assets.)

  • 56% of revenue recurring (2018 H1: 55% of revenue)

  • Cash generated in operations £3,130,000 (2018 H1: £3,137,000)

  • Net bank debt £198,000 (2018: £1,814,000)

  • Interim dividend up 7% to 0.30p per share (2018 interim: 0.28p per share)

Operational Highlights
  • Elecosoft products Powerproject SaaS, IconSystem and ShireSystem listed on ‘G-Cloud 11’ the Crown Commercial Service’s (“CCS”) digital marketplace, a service for supply of cloud applications and public sector procurement

  • Release of highly anticipated Powerproject XV the latest version of the market leading project management software

  • Release of ShireSystem software version 3.2.6 and the development of a new mobile application for iOS users

  • Increased adoption of IconSystem software into sectors outside of its traditional retail market

  • Development of an integrated product set from Active Online and ESIGN for their joint customer offering providing synergistic opportunities

  • Milestone for Elecosoft in July celebrating 80 years of being incorporated in the UK

    • Executive Chairman, John Ketteley said: “Elecosoft has improved operating profit, and strengthened its financial position in the period, despite having to operate in markets that have been less buoyant than they have been for some time.

That said the spread of the markets that we serve worldwide; the innovative and increasingly synergistic content of Elecosoft’s software range; our highly regarded and profitable worldwide training and support facilities are all factors which, in the absence of unforeseen circumstances, lead me to be cautiously optimistic regarding the outlook for the remainder of the year.”

Download the 2019 Interim Report

The Elecosoft Interim accounts for the period ended 30 June 2019 are now available to download.

Shareholders can elect to receive hard copy shareholder documents at any time by informing Neville Registrars, Neville House, Steelpark Road, Halesowen, B62 8HD

Download the 2019 Interim Scrip Dividend Scheme and Cash Alternative Documentation