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09 May 2019 | 09:28

Elecosoft Q1 results meet expectations driven by strength in construction, visualisation software businesses

Elecosoft said its international spread and strength of its core construction and visualisation software businesses helped deliver first-quarter profits in line with market expectations. For the quarter ended 31 March 2019, revenues increased by 20% and profit before tax for the quarter was higher than that of last year and in line with market expectations.  Elecosoft was also cash generative in the quarter, with net debt of £0.9m, compared with net debt of £2.1m as at 31 December 2018.

'Elecosoft continues to perform well reflecting both the international spread and strength of our core construction and visualisation software businesses,' the company said. '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.'

At 9:28am: (LON:ELCO) Elecosoft PLC share price was +6p at 86.5p

Story provided by StockMarketWire.com
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