Highlights

Financial Highlights

  • Revenue up 5% to £10,554,000 (2017 H1: £10,010,000); up 7% at constant exchange rates

  • Operating profit up 15% to £1,221,000 (2017 H1: £1,059,000)

  • Operating profit before acquisition related costs up 46% to £1,544,000 (2017 H1: £1,059,000)

  • Adjusted operating profit* up 34% to £1,755,000 (2017 H1: £1,314,000)

  • Basic earnings per share up 18% to 1.3p (2017 H1: 1.1p)

 

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

  • Adjusted earnings per share* up 38% to 1.8p (2017 H1: 1.3p)

  • 55% of revenue recurring (2017 H1: 54% of revenue)

  • Cash generated in operations up 26% to £2,865,000 (2017 H1: £2,277,000)

  • Net cash £2,668,000 (2017 H1: £259,000)

  • Interim dividend up 40% to 0.28p per share (2017 interim: 0.20p per share)

Operational Highlights

  • Acquisition in July of Shire Systems, a leading UK provider of computerised maintenance management software (CMMS)

  • Increased adoption of Powerproject BIM including its adoption by Ballast Nedam, a leading Dutch construction company, as their standard 4D planning tool

  • Release of a new retailer platform Pixmo for visualising ceramic tiles

  • Showcased the pre-release version of Memmo®, Elecosoft’s new site management software, alongside Powerproject® and Bidcon® at Nordbygg, Northern Europe’s largest construction exhibition in Sweden 

  • Appointment of Mukul Mistry, BSc – Corporate Development Director

  • Appointment of David Dannhauser, FCA – Non-Executive Director

    Executive Chairman, John Ketteley said: “Elecosoft has performed well in the first half of 2018. Our revenue growth has accelerated, cashflow remains strong, we have made good progress with our software development and the acquisition of Shire Systems has broadened and strengthened our product portfolio. I would like to thank Simon Morgan for his contribution in his time with the Company and wish him the best for the future, and welcome Ben to the Board. In light of the Company’s first half performance, we look forward to the remainder of 2018 with confidence.”

Download the 2018 Interim Report

The Elecosoft Interim accounts for the period ended 30 June 2018 are now available to download.

Shareholders can elect to receive hard copy shareholder documents at any time by informing Capita Asset Services at The Registry, 34 Beckenham, Kent BR3 4TU.

Download the 2018 Interim Scrip Dividend Scheme and Cash Alternative Documentation