Elecosoft reports revenue of £8.8m for the six months to the end of June - up 10% from last time with 47% coming from recurring maintenance and support revenue (2015: 46%). Operating profit before former directors termination payments rose by 25% to £710,000 (2015 restated: £568,000) and profit before tax was up 14% at £557,000. EBITDA rose by 9% to £963,000. The board has declared an interim dividend of 0.15p per ordinary share covered four times by unaudited earnings of 0.6p (2015: nil). Executive chairman John Ketteley said: "I am pleased to announce an improved trading performance for the six months ended 30 June 2016 which leaves us in a strong position to meet market expectations. Elecosoft is now in a significantly strengthened financial position, evidenced by the declaration of an interim dividend, and I look forward to continuing to build on that position in the second half and beyond."
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