Elecosoft posts solid first quarter gains

The share price of AIM-listed construction software provider Elecosoft (LON:ELCO) rose by 5.59% to 85p (as of 11:35 BST) after it said that the 2019 financial year had started well with revenues for the first quarter rising by 20%. Pre-tax profits for the quarter also increased over the quarter and net debt fell substantially over the three month period.

Executive chairman John Ketterley commented: “Elecosoft continues to perform well reflecting both the international spread and strength of our core construction and visualisation software businesses. We have been encouraged by the trading performance of our recent acquisitions in the UK and Germany and the opportunities for realising synergies which we anticipated when acquiring these businesses“.