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Escher revenues ahead of earlier forecast

By BFN News | 07:30 AM | Friday 12 January, 2018


Escher Group expects revenues for the year ended 31 Dec to be marginally ahead of the figure in its November update. The group said adjusted EBITDA was expected to be in the order of $2.8m. Escher said that as previously indicated, the group would 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. Chief executive Liam Church 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.' Story provided by StockMarketWire.com

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