Eleco (GB:ELCO) has released an update.
Eleco PLC reports strong H1 2024 financial performance with a 31% increase in Annualised Recurring Revenue to approximately £25.8m and a 21% boost in total revenue to about £16.3m, alongside successful integrations of new acquisitions and product innovations. The company’s cash position also strengthened, rising to £12.0m, thanks to robust cash generation and strategic acquisitions. Eleco’s CEO expresses confidence in meeting full-year market expectations due to the company’s solid market position and technological advancements in the built environment sector.
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