Trading Statement

RNS Number : 6750U

Elecosoft PLC

20 January 2017

 

Elecosoft plc

("Elecosoft" or "the Company")

Trading Statement  

The Board of Elecosoft is pleased to announce the following trading statement for the year ended 31 December 2016:

Based on unaudited management accounts for the year ended 31 December 2016, the Board expects that profit before tax for the year will be significantly ahead of market expectations before costs associated with the acquisition of Integrated Computing and Office Networking Limited (ICON).  

Elecosoft achieved record sales in the year ended 31 December 2016 due principally to substantial growth in sales of its Asta Powerproject® software applications and its Bidcon® estimating software together with corresponding increases in training and consultancy revenues. Sales benefited in the latter half of 2016 from the currency effect resulting from the Brexit vote.

John Ketteley, Executive Chairman of Elecosoft said "Elecosoft produced a strong trading performance in 2016 and made the successful acquisition of ICON. We are confident that 2017 will be a year of further progress as Elecosoft begins to realise its potential as a specialist international provider of market leading software solutions and applications for construction, retail and related industries.

For further information, please contact:
Elecosoft plc John Ketteley (Executive Chairman) Jonathan Hunter (Group Marketing and Business Development Director) finnCap Ltd	Tel: [phone]
Adrian Hargrave / Kate Bannatyne (Corporate Finance) Camille Gochez (Corporate Broking)	Tel: [phone]
Redleaf Communications
Rebecca Sanders-Hewett / David Ison / Susie Hudson	Tel: [phone] [e-mail]

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

About Elecosoft

Elecosoft is listed on the Alternative Investment Market in London (AIM: ELCO). It is a specialist international provider of software and related services to the architectural, engineering, construction, retail and digital marketing industries from centres of excellence in the UK, Sweden, Germany and the US. Elecosoft's market leading software solutions are developed by teams in the United Kingdom, Sweden and Germany; and its software programs cover project management, construction site management, estimating, timber engineering, 3D design and visualisation, cloud based digital marketing and data storage solutions.

For more information, please visit www.elecosoft.com

 

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