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Elecosoft saw its net income grow to £1.29m from £0.95m as revenues increased 20% to £12.71m as announced in its interim results for the period ending 30 June 2019.
Highlights of the year included the release of Powerproject XV, the company's latest version of its project management software.
Net bank debt fell to £0.2m from £1.8m, and the company's interim dividend was up 7% to 0.30p per share.
Commenting on the results in his report, executive chairman John Ketteley said:
'We significantly improved our operating profit, and strengthened our financial position in the period, despite having to operate in markets that have been less buoyant than they have been for some time.'
'That said, the positive performance of Elecosoft in the first six months of 2019; the spread of the markets that we serve worldwide; the innovative and increasingly synergistic content of Elecosoft's software range; our highly regarded and profitable worldwide training and support facilities; and the strength of our financial position, are all factors which, in the absence of unforeseen circumstances, lead me to be cautiously optimistic regarding the outlook for the remainder of the year.'
At 9:38am: (LON:ELCO) Elecosoft PLC share price was -4p at 75p