The Board of Elecosoft (AIM: ELCO), the international construction software specialist, is pleased to announce that results for the year ended 31 December 2019, based on unaudited management accounts, are expected to be ahead of the prior year and will be in line with market expectations. The Board is also pleased to note that Elecosoft significantly improved its cash generation in the year.
John Ketteley, Executive Chairman of the Company, commented:
“Elecosoft remained resilient throughout 2019 despite adverse exchange rate movements and delays and hesitations occasioned by Brexit in the placing of orders by companies in the construction, manufacturing and retail sectors, all of which are served by Elecosoft. I am sure that shareholders will be particularly grateful to our employees this year for their continuing dedication and outstanding performance in such difficult trading conditions.”