The Eleco Board is increasing the interim dividend by 25 per cent to 0.25 pence per share (H1 2022: 0.20 pence per share), payable on 6th October 2023 to shareholders on the Register on 22 September 2023, and the ex-dividend date will be 21st September 2023.
Other financial highlights include:
Annualised Recurring Revenue (ARR) up 18% to £19.7m (at 30 June 2022: £16.7m); organic ARR growth of 24%
Total Recurring Revenue (TRR) up 18% to £9.7m (H1 2022: £8.2m), representing 72% of total revenue (H1 2022: 61% of total revenue); organic TRR growth of 21%
Revenues slightly ahead of expectations at £13.5m (£13.6m in constant currency terms) (H1 2022: £13.4m) despite products' end-of-life, and business disposal. Excluding these, revenues were 5% ahead organically, following the effects of the SaaS transition
EBITDA of £2.2m (H1 2022: £2.8m)
Adjusted EBITDA of £2.6m (2022: £2.9m) as anticipated
Profit Before Taxation £1.3m (H1 2022: £1.7m)
Adjusted Profit Before Taxation £1.8m (H1 2022: £2.0m)
Basic EPS of 1.2 pence per share (H1 2022: 1.6 pence per share)
Adjusted EPS of 1.7 pence per share (H1 2022: 1.9 pence per share)
Cash at 30 June 2023 £9.4m (£11.3m at 30 June 2022; £12.5m at 31 December 2022) after acquisition payment of £3.6m
