Esker - Signalling a return to double-digit growth
Esker reported constant currency revenue growth and operating profit growth of 9%, despite COVID-19 restrictions reducing volumes processed during the year and making it more difficult to sign new business in Q220. Order intake rebounded in Q3 and hit record levels in Q4, setting the company up for accelerating revenue growth in FY21. We have revised our forecasts to reflect lower ongoing tax rates and upgrade our FY21 EPS forecast by 10.5%; with our expectation that growth will return to pre-COVID levels in FY22 we forecast FY22 EPS growth of 42%.ESKER and its subsidiaries are engaged in the design and production of software applications. Co. operates corporate resource access software such as applications and databases for workstations. Co. has three major product groups: Host Access, DeliveryWare and Fax Server. Host Access products allows users to access applications and databases stored on different servers from their own workstations. DeliveryWare responds to the need of companies for automatic management document delivery. Fax Server allows the user to send a fax directly from their workstation.
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