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Eleco plc – AGM trading update, is it right to be delighted with “progress”?...

By Steve Moore | Wednesday 25 May 2022

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Serena Lang, Non-Executive Chairman of construction software company Eleco (ELCO), is “delighted with Eleco's progress in the first four months of 2022” and emphasises “underlying demand for Eleco's products remains strong as the construction industry moves towards a more sustainable future, digitisation of the built environment and improvements in productivity… the board remains confident in delivering results in line with market expectations for the full year”. So what of a current share price fall to 88.5p?...

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