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Escher Group Holdings plc
Annual report 2011
01
Financial statements
Corporate governance
Business review
Overview
We are delighted to report our inaugural
results as a listed Group, with strong
operational performance, strong contracted
revenues and good sales pipeline.
Highlights
Overview
At a glance
01
Highlights
02
Business at a glance
04
Our global operations
06
Chairman’s statement
Business review
08
Chief Executive Officer’s report
10
Financial review
Corporate governance
12
Board of Directors
14
Company information
15
Corporate governance report
16
Directors’ report
Financial statements
18
Independent auditors’ report
19
Consolidated income statement
19
Consolidated statement
of comprehensive income
20
Consolidated statement
of financial position
21
Company statement of financial
position
22
Consolidated statement
of changes in equity
23
Company statement
of changes in equity
24
Consolidated statement
of cash flows
25
Company statement
of cash flows
26
Accounting policies and
estimation techniques
31
Notes to the consolidated
financial statements
56
Group directory
—
Retail marketplace remained buoyant with two contract
closures during 2011. ‘Haypost’, the Armenian national
postal operator, and Saudi Post brought our customer
base to thirty two.
—
We continued to evolve our content delivery service –
RiposteTrEx
– with the completion of a commercial
licensing agreement with An Post.
—
Existing business remained strong with customers
renewing contract and acquirement, and additional
professional services purchased.
—
Expansion of our service offering with the introduction
of Escher Group interactive services which leverages
Near Field Communication (NFC) for customer loyalty,
e-wallet and coupons.
Subsequent to the post year end:
—
Escher Group won a significant new contract in Q1 2012.
—
A US$9.7 million term loan facility and a revolving facility
for US$1.8 million with Bank of Ireland extending the loan.
Strong performance
2011 Highlights
Adjusted net profit after tax
US$2.3m
Adjusted earnings per share
12.7c
Revenue
US$13.9m