Pelatro Continues To Trade In Line As Danateq Integration Ends

(Alliance News) - Pelatro PLC said Tuesday it has a "strong" pipeline of new business which it is ...

Alliance News 25 June, 2019 | 3:18PM
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(Alliance News) - Pelatro PLC said Tuesday it has a "strong" pipeline of new business which it is "well placed" to win.

Speaking at the telecom marketing software provider's annual general meeting, Non-Executive Chair Richard Day said: "Current revenue visibility for 2019 stands at USD6.3 million, and the pipeline of medium-term opportunities is at around USD16 million. Given our growing revenues and profitability, the board remains confident in its high-growth strategy and that the company continues to trade in-line with expectations."

In 2018, Pelatro reported pretax profit of USD2.5 million on revenue of USD6.1 million.

Day said the company has been focused on growing its customer base, cross-selling new products to existing customers, increasing its recurring revenue and expanding into new territories.

"I am therefore pleased to report we have made considerable operational and financial progress and tripled the number of customers to 18 since the beginning of 2018. This progress is in line with management's expectations and will continue to be driven by new contracts and cross-selling opportunities," added Day.

Day also noted that the integration of Danateq is now complete.

He said: "Importantly, due to the revenue recognition of certain acquired pipeline contracts falling towards the end of 2019, it is unlikely that the earn out payment will be due or payable for this first year."

Shares in Pelatro were up 3.1% in London on Tuesday at 82.00 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Pelatro PLC 76.50 GBX 0.66 -
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