Eckoh PLC Trading Update (8786Y)

TIDMECK

RNS Number : 8786Y

Eckoh PLC

14 May 2019

14 May 2019

Eckoh plc

("Eckoh", the "Group" or the "Company")

Trading Update

Eckoh, the global provider of secure payment products and customer contact solutions, today issues a trading update for the year ended 31 March 2019.

The Board of the Company confirms that trading for the year ended 31 March 2019 was in line with market expectations, with revenue growth in both the UK and US divisions. Following a very strong first half to the year for new business wins, Eckoh delivered double digit new business growth in both divisions in the second half.

In the US, the Secure Payments order book has continued its strong momentum with new contract value growing by 47% to $13.7m in the twelve-month period (FY18: $9.3m). This reflects new wins in the healthcare, insurance, telecoms and retail sectors, and includes contracts to be delivered both on-site and in the Cloud. Support and Coral have as expected both returned to growth in the second half.

The UK had a strong year, with total contract value from new business and renewals more than doubling on the previous year. The largest Omnichannel agreement, since the acquisition of Klick2Contact in 2016, was won through Capita in the second half and the indirect sales channel performed well overall.

There was strong cash generation during the period and Eckoh's balance sheet remains robust with net cash of GBP8.3m at the period end (2018: GBP3.6m).

The Group has an excellent sales pipeline and continues to see momentum with larger-scale opportunities at enterprise level in both divisions.

The Group will report its audited results for the year ended 31 March 2019 on Wednesday 12 June 2019.

For further information please contact:

 
 Eckoh plc 
 Nik Philpot, Chief Executive Officer                 Tel: [phone] 
                                                                 300 
 Chrissie Herbert, Chief Financial Officer 
 www.eckoh.com 
 
 FTI Consulting LLP                               Tel: [phone] 
 Ed Bridges / Jamie Ricketts / Darius Alexander 
 [e-mail] 
 
 N+1 Singer (Nomad & Joint Broker) 
 Shaun Dobson / Justin McKeegan                   Tel: [phone] 
 www.n1singer.com 
 
 Canaccord Genuity Limited (Joint Broker) 
 Simon Bridges / Emma Gabriel                     Tel: [phone] 
 
 

About Eckoh plc

Eckoh is a global provider of secure payment products and customer contact solutions, supporting an international client base from its offices in the UK and US.

Our secure payments products help our clients take payments securely from their customers through multiple channels. The products, which include the patented CallGuard, can be hosted in the Cloud or deployed on the client's site and remove sensitive personal and payment data from contact centres and IT environments. They offer merchants a simple and effective way to reduce the risk of fraud, secure sensitive data and become compliant with the Payment Card Industry Data Security Standards ("PCI DSS") and wider data security regulations. Eckoh has been a PCI DSS Level One Accredited Service Provider since 2010, securing over $2bn in payments annually.

Eckoh's customer contact solutions enable enquiries and transactions to be performed on whatever device the customer chooses, allowing organisations to increase efficiency, lower operational costs and provide a true Omnichannel experience. We also assist organisations in transforming the way that they engage with their customers by providing support and transition services as they implement our innovative customer contact solutions.

Our large portfolio of clients come from a broad range of vertical markets and includes government departments, telecoms providers, retailers, utility providers and financial services organisations.

For more information go to www.eckoh.com or email Media [e-mail]

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May 14, 2019 02:00 ET (06:00 GMT)