Escher Group Holdings PLC Year-end trading update (6748B)

TIDMESCH

RNS Number : 6748B

Escher Group Holdings PLC

12 January 2018

12 January 2018

Escher Group Holdings plc

Year-end 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 postal, retail and financial industries, publishes a trading update for the year to 31 December 2017.

Group revenue is expected to be marginally ahead of the figure published in the Trading Update on 14 November 2017 and adjusted EBITDA* is expected to be in the order of $2.8m.

As previously indicated, the Group will have exceptional costs in the order of $300,000, incurred to complete the restructuring commenced in 2016.

The Group finished the year in a net positive cash position, despite the absence of any major one-off licence sales in 2017 and the costs incurred from the exploration of routes to market for the Group's Licensing and Permitting technologies.

Escher expects to publish its full year results in the week commencing 6 March 2018.

Liam Church, Escher Chief Executive said:

"We have now structured the business to produce solid EBITDA returns and to generate cash, even in the absence of a major, one-off licence sale."

*Operating profit before, depreciation, amortisation, share-based payments and exceptional items.

Enquiries:

 
 Escher www.eschergroupholdings.com      [phone] 
 Liam Church, Chief Executive 
  Officer 
  Clem Garvey, Chief Financial 
  Officer 
  Fionnuala Higgins, Chief Commercial 
  Officer 
 
                                         [phone] 
 Panmure Gordon                           2500 
 Andrew Godber / Alina Vaskina, 
  Corporate Finance 
 Erik Anderson, Corporate Broking 
 
                                         [phone] 
 Instinctif Partners                      2077 
 Adrian Duffield / Chris Birt 
 

Market abuse regulation

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 12, 2018 02:00 ET (07:00 GMT)