Eckoh Plc reports strong cash position of £13.6 million for the year ended 31 March 2020

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Eckoh Plc reports strong cash position of £13.6 million for the year ended 31 March 2020

Eckoh Plc (LON: ECK) has released the full-year trading update for the year ended 31 March 2020.

  • The company stated that the US Secure Payments order book maintained strong momentum, with new contracts signed with a value of $10.7 million as compared to $13.7 million of FY19.
  • The company’s balance sheet remains robust with cash of £13.6 million at the period end.
  • Taking into account the outstanding loan of £2 million that was used to purchase the company’s head office, the Net cash stood at £11.6 million as compared to £8.3 million in 2019.
  • On 9th April 2020, at the time of writing, GMT 08:35 AM, ECK shares were trading at GBX 48.50, up by 0.50 points or 1.04% against the previous day closing price.

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