25 May 2012

Strong trading at Eckoh

28/09/2011 Miles Nolan

Speech recognition specialist Eckoh (ECK) has issued a bullish trading update at its AGM in which it states it remains confident of achieving market expectations.

Interim results due in November should reveal double digit growth in sales and margins compared to last year. Moreover, the significant operational gearing of the business should lead to a strong hike in profits for the AIM counter.

Eckoh boasts it is doing well thanks to recent new services provided to the likes of Addison Lee, Premier Inn and Lead the Good Life. It remains confident that the second half should continue the momentum, driven by the recent contract win to supply its services to the Legal Services Commission.

Our advice to buy the shares in March at 7.125p has proved well timed, with the price up a fraction to 7.75p today. We retain our view and believe Eckoh, buoyed by a hefty cash balance and useful tax losses, remains undervalued.

Tags: AIM market, Annual General Meeting, Cash pile, Growth company

Sector: Support Services

Companies: Eckoh

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