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Escher Group Hldgs (ESCH)

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Friday 12 January, 2018

Escher Group Hldgs

Year-end trading update

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

+353 (0)1 254 5400

Liam Church, Chief Executive Officer

Clem Garvey, Chief Financial Officer

Fionnuala Higgins, Chief Commercial Officer




Panmure Gordon

+44 (0)20 7886 2500

Andrew Godber / Alina Vaskina, Corporate Finance


Erik Anderson, Corporate Broking

 


 

Instinctif Partners

+44 (0)20 7457 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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