24th Sep 2019 10:30
(Alliance News) - Construction software firm Elecosoft PLC boosted its interim dividend Tuesday after profit and revenue surged despite less buoyant markets.
For the six months ended June, pretax profit widened 33% to GBP1.6 million from GBP1.2 million the year prior. This was after revenue rose 20% to GBP12.7 million from GBP10.6 million the year before.
"Elecosoft has improved operating profit, and strengthened its financial position in the period, despite having to operate in markets that have been less buoyant than they have been for some time," Executive Chair John Ketteley said.
Operating profit improved 31% to GBP1.7 million from GBP1.3 million the year before. Net debt fell to GBP198,000 from GBP1.8 million the year prior.
Elecosoft proposed a 0.30 pence per share interim dividend, up 7.1% from 0.28p the year prior.
"That said the spread of the markets that we serve worldwide; the innovative and increasingly synergistic content of Elecosoft's software range; our highly regarded and profitable worldwide training and support facilities are all factors which, in the absence of unforeseen circumstances, lead me to be cautiously optimistic regarding the outlook for the remainder of the year", Ketteley added.
Shares in Elecosoft were 4.4% lower at 75.50 pence in London on Tuesday.
By Ahren Lester; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Elecosoft