Esker Processing Power
Edison | May 04, 2016 08:01AM ET
After a strong performance in FY15, Esker (PA:ALESK) is on track to generate double-digit revenue and margin growth in FY16 and FY17. We upgrade our FY16 forecasts to reflect stronger revenue growth combined with increased investment in the business, and we introduce FY17 forecasts for 10% revenue and 16% earnings growth. Investment in product development, either internally or via acquisition, should support sustained growth.
FY15: Organic growth boosted by acquisitions
Esker reported strong revenue and earnings growth in FY15, benefiting from new customers generating services and traffic revenues, as well as the two recent acquisitions and the positive effect of the strong dollar versus the euro. Revenues in Q116 have continued this strong performance (+16% y-o-y underlying growth) and management expects to generate organic revenue growth of 13-18% in FY16.
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