Elecosoft’s update doesn’t reassure markets

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Elecosoft’s update doesn’t reassure markets
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Shares in AIM-listed construction software specialist Elecosoft (LON:ELCO) fell 6.44% to 81.40p (as of 15:50 GMT) despite noting that results for the year ended 31st December would be ahead of the prior year. Management said that cash generation was up and results would meet market expectations.

Executive Chairman John Ketteley commented: “Elecosoft remained resilient throughout 2019 despite adverse exchange rate movements and delays and hesitations occasioned by Brexit in the placing of orders by companies in the construction, manufacturing and retail sectors, all of which are served by Elecosoft. I am sure that shareholders will be particularly grateful to our employees this year for their continuing dedication and outstanding performance in such difficult trading conditions.“.

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