Elecosoft down despite solid first half

AIM-listed software provider Elecosoft (LON:ELCO) has seen its share price fall by 3.23% to 75p (as of 13:50 BST) despite reporting that revenues for the six months ended 30th June were up by 20%. The company said that margins were in line with the previous year.

Solid cash generation during the first half has substantially reduced the company’s net debt levels and management said that the firm was on track to meet its full-year guidance. Full results for the first half will be released in September.