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Eleco SaaS switch paying off

Construction and property asset management software supplier Eleco grew 2023 revenues from £26.6m to £28m and pre-tax profit rose from £3.6m to £4.2m.


Organic recurring revenue growth was 17% after the disposal of non-core software. The dividend increased from 0.7p/share to 0.8p/share.


Even after acquiring BestOutcome, there was still net cash of £10.9m at the end of 2023. Eleco bought Vertical Digital earlier in April. This acquisition will provide expertise in development and integration for Eleco software. The cash pile will continue to grow unless there are significant acquisitions. Pre-tax profit is forecast to rise to £4.8m this year.

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Cake Box trading sparks upgrade 

Egg-free cakes supplier Cake Box had a stronger than expected second half and the full year was slightly ahead of forecasts. 

In the year to March 2024, revenues were 9% higher at £34.8m, although pre-tax profit dipped from £7m to £5.4m. Like-for-like growth of the store franchises was 4.4%. Pricing strategy is under regular review and there could be a small increase in prices this year.

Twenty new stores were opened last year. helped by a prepayment. The long-term target is 400 stores. Shore forecasts a recovery in pre-tax profit to £6m this year.

Windar Photonics raises £4m

Wind power measurement technology developer Windar Photonics is raising £4m at 35p/share after it was awarded a major order. 


The cash will be spent on R&D and sales. The latest order is from a North American company with Vestas V82 turbines. It covers one-fifth of the company's wind turbines, so there could be additional business. The deal also includes software for the first time. 

This underpins forecast 2024 revenues of €12m, which could return the company to profit. A pre-tax profit of €3.1m is forecast.

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