21st Jan 2016 09:24
LONDON (Alliance News) - Escher Group Holdings PLC said on Thursday its 2015 revenue would be slightly up from last year, after having warned it would take a hit in December following incomplete licence sales.
The provider of software to the postal, retail and financial industries said revenue was up 4.0% from 2014, at USD22.0 million from USD21.1 million, whilst net debt saw a drop to USD2.7 million, from USD5.3 million.
Escher pointed to difficulties with licensing revenue in 2015, saying they will "continue to be uneven and difficult to forecast" over the coming year. The company said half of its revenue for 2016 is expected to come from recurring revenue, with subscription revenue streams established for 2016 through early stage businesses in the UK, Isle of Man and Ireland.
Escher expects to publish its full year results in the week commencing March 7.
Shares for Escher were up 7.8% at 169.75 pence on Thursday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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