News Column

Eckoh Revenue, Margins Up Significantly, Chairman Says

August 13, 2014

Samuel Agini

LONDON (Alliance News) - Eckoh PLC has seen a "significant increase" in revenue and margins during the first quarter of the new financial year, Chairman Chris Batterham said Wednesday, while current trading remains in line with market expectations.

Batterham also said that Eckoh, which has a range of secure payment products, has won two three-year contracts to provide payment services to a large financial institution and also a specialist provider of packaged account products and services in mobile handset protection.

"Since announcing our year-end results in June, we continue to see positive new contract momentum being generated both organically and through our channel partners," Batterham said in a statement released ahead of Eckoh's annual general meeting. "Coupled with the five multi-year contracts won in the second half of the prior financial year, revenue growth in the first quarter was extremely strong".

Earlier this week, Eckoh revealed a new, three-year service deal with Tenpin, the UK bowling and family entertainment centre operator.

Batterham will also tell shareholders that the exclusive agreement agreed in June with a business process outsourcing and communications services provider has seen "significant" interest in the early weeks of the arrangement, with a sales pipeline that exceeds the current existing pipeline in the UK.

"This has been supplemented by our direct sales activity in the US that has also seen some modest sized opportunities being won in recent weeks. We remain encouraged that the investment being undertaken in the US will result in significant profits for the group in future periods," the Chairman said.

Eckoh shares were Wednesday quoted up 0.5% at 42.44 pence.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters