Eckoh says full-year results will be in line thanks to strong investment

Payment services Eckoh said in Monday its full-year results will be in line with market expectations thanks to new contracts and renewals.

Eckoh secured 20 new contracts in the UK and managed to renew all its existing contracts, which drove its adjusted operating profit up by 50%.

The company invested strongly in the US during 2014, securing a new contract for a call guard on-site installation.

Chief executive Nik Philpot said the "strong momentum" seen during 2014 has continued during the new financial year.

Philpot added: "We remain confident of our prospects of further significant growth in the years ahead."

N+1 Singer analysts said: "With continued strong performance in the UK and significant opportunities in the US, we remain positive on the group’s prospects in the years to come."

Shares were up 3.62% to 38.34p on Monday at 13:29.