Elecosoft plc release a trading update for the Quarter to 31 March 2019.
2019 started well. Unaudited management accounts for the quarter ended 31 March 2019 showed that revenues increased by 20 per cent (22 per cent at constant currency); and Profit Before Tax for the quarter ended 31 March 2019 was higher than the Profit Before Tax in the quarter ended 31 March 2018 and is in line with market expectations. Elecosoft was also cash generative in the quarter, and as at 31 March 2019, had net debt of £0.9m, compared with net debt of £2.1m as at 31 December 2018.
John Ketteley, Executive Chairman said, “Elecosoft continues to perform well reflecting both the international spread and strength of our core construction and visualisation software businesses. We have been encouraged by the trading performance of our recent acquisitions in the UK and Germany and the opportunities for realising synergies which we anticipated when acquiring these businesses.”