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Eleco PLC on Thursday announced strong growth in revenue in the last six months, with ‘positive momentum’ in its trading performance. Eleco is a London-based software provider focused on the construction and built environment sectors. Eleco said recent in the six months that ended June 30 was £16.3 million, up 20% from £13.5 million a year before. In constant currency terms, the increase was 21%, it said, while the organic growth rate was 12%. Annual recurring revenue was £25.8 million on June 30, up 31% from £19.7 million a year before. The firm said it ended the half with £12.0 million cash, up from £9.4 million a year ago. Chief Executive Officer Jonathon Hunter commented: ‘Eleco is well positioned in an attractive market that is increasingly utilising technology to meet the demands of the built environment’. Eleco shares were up 12% to 131.50 in London on Thursday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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