Eckoh narrows FY losses

21st Jun 2010 07:59

Speech recognition specialist Eckoh said it narrowed full year pre-tax losses as it reported an adjusted pre-tax profit.Chief executive officer Nik Philpot said, "Despite the backdrop of continuing economic uncertainty, Eckoh has been able to build on the good progress we made last year and deliver an excellent set of results."Pre-tax losses reduced to £197,000 in the year ended 31 March 2010 from £1.4m a year before. Turnover for the year rose to £7.92m from £6.67m while adjusted pre-tax profit rose to £0.7m from a loss of £0.4m. "As a result of the strong progress made in growing the Speech division and the final restructuring of the group, the board remains highly confident of Eckoh's prospects," the group said.Eckoh is currently debt free with a cash and short term investment balance of £3.9m compared to £5.2m the year before.