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Escher Sees 2016 Adjusted Earnings Meeting Expectations

LONDON (Alliance News) - Postal industry software company Escher Group Holdings PLC on Thursday ...

Alliance News 12 January, 2017 | 9:21AM
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LONDON (Alliance News) - Postal industry software company Escher Group Holdings PLC on Thursday said its adjusted earnings for 2016 are set to meet market expectations.

The firm said it has continued to make progress in securing recurring revenue streams, which will represent about half of its sales for 2016. Recurring revenue was around 35% of total sales in 2015.

Licensing sales have continued to prove "uneven and difficult to forecast", Escher said.

Overall, adjusted earnings before interest, tax, depreciation and amortisation, stated before one-off items, will meet market expectations.

"Major customer deployments in 2014 and 2015 created recurring, cash-generating, revenue streams which underpin the results in 2016 and going forward. We also arrived at a net cash-positive position," Escher Chief Executive Liam Church said.

"Looking forward, the tendency of major customers to look to us as a trusted adviser to accompany them in the evolution of their businesses, should allow us to continue to build further our recurring revenues," he added.

Shares in Escher were untraded on Thursday, having last traded at 150.00 pence.

By Sam Unsted;; @SamUAtAlliance

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Escher Group Holdings PLC 182.50 GBX 0.55 -
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