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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Escher Grp | LSE:ESCH | London | Ordinary Share | IE00B6SKRB38 | ORD EUR0.005 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 189.50 | 177.00 | 202.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMESCH
RNS Number : 3806W
Escher Group Holdings PLC
14 November 2017
14 November 2017
Escher Group Holdings plc
Trading update
Escher Group Holdings plc (AIM: ESCH, "Escher" or "the Group"), a world leading provider of outsourced, point of service software for use in the worldwide postal, retail and financial industries, announces that the Group will not close the additional licence sales that it had expected in H2 2017 due to the postponement of major contracts.
As a result, Group revenues are now expected to be approximately US$18m for the year to 31 December 2017 with licence revenues, which have a high margin, materially lower than expectations.
The adjusted EBITDA*, excluding exceptional items, is expected to be approximately US$2.7m for the year to 31 December 2017. As at 31 December 2017, the Group expects to have a neutral net debt/cash position.
Escher continues to manage its fixed-cost base in order to remain profitable, even in the absence of major one-off licence sales. The 2017 exceptional restructuring costs incurred are expected to be similar to those in 2016 at US$0.3m.
Liam Church, Escher Chief Executive said:
"We are disappointed with the postponement of licence sales, which we had anticipated falling in 2017. The volatility in revenues and earnings caused by the timing of these licence sales remains a characteristic of our core Postal activity."
* Operating profit before, depreciation, amortisation, share-based payments and exceptional items.
Enquiries:
Escher www.eschergroupholdings.com +353 (0)1 254 5400 Liam Church, Chief Executive Officer Clem Garvey, Chief Financial Officer Fionnuala Higgins, Chief Commercial Officer +44 (0)20 7886 Panmure Gordon 2500 Andrew Godber / Alina Vaskina, Corporate Finance Erik Anderson, Corporate Broking +44 (0)20 7457 Instinctif Partners 2077 Adrian Duffield / Chris Birt
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
November 14, 2017 02:01 ET (07:01 GMT)
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