20th Jan 2017 08:04
LONDON (Alliance News) - Elecosoft PLC said Friday it expects to deliver pretax profit "significantly ahead" of market expectations for 2016, before costs associated with its acquisition of Integrated Computing & Office Networking Ltd.
Shares in Elecosoft were up 17% at 35.00 pence shortly after the market open Friday.
The software and services company said that it saw record sales in 2016 due to the substantial growth in sales of its Asta Powerproject application and Bidcon estimating software, as well as corresponding rises in training and consultancy revenues.
The company also saw sales boosted in pound terms in its second half as a result of the depreciation of the UK currency following the Brexit vote in June.
"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," said Executive Chairman John Ketteley in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2017 Alliance News Limited. All Rights Reserved.
Related Shares:
Elecosoft