22nd Jan 2014 09:21
LONDON (Alliance News) - Escher Group Holdings PLC said Wednesday that it expects to post revenue ahead of the previous year as its Postal Solutions business performed strongly during the full year ended December 31, 2013.
Escher Group provides software for the postal industry. It expects to report revenue of USD24.7 million, up from USD23.0 million in the previous year.
Adjusted earnings before interest, tax, depreciation and amortisation is expected to be around USD4.0 million, down from USD6.4 million in the previous year.
New contract wins boosted the company's Postal Solutions business, as well as contract extensions.
Escher is investing in its Interactive Services business, and has won contracts with the South African Post Office for its RiposteTrEx software, as well as with Graham O'Sullivan Restaurants Ltd for mobile payments services during the period.
Escher group will publish its full-year results in the week beginning March 10.
Shares in Escher were trading up 3.2%, or 8.00 pence, at 258.00 pence at market open Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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