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Pelatro PLC (PTRO)

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Wednesday 22 January, 2020

Pelatro PLC

Post close trading update

RNS Number : 5119A
Pelatro PLC
22 January 2020
 

 

 

22 January 2020

Pelatro Plc

 

("Pelatro" or the "Group")

 

Post close trading update

 

 

Pelatro Plc (AIM: PTRO), the Multichannel Marketing Hub software specialist, today reports a post-close trading update in respect of its full year results for the year ended 31 December 2019 (the "Year").

 

Trading performance

 

The Board expects to report revenue and adjusted EBITDA for the Year in line with its expectations. As previously outlined, we are continuing our strategic focus to pivot towards a recurring revenue model. This change in the business mix has significantly increased the  proportion of Group revenue generated as repeating income, which is expected to account for around two thirds of total revenue for the Year. Additionally, as previously announced, expected income for 2020 is underpinned by this repeating revenue, currently amounting to approximately US$4.0m.

 

Financial position

 

Cash collection in the second half of the Year was strong and the year-end gross cash position was just under $1.1m (30 June 2019: $1.1m), with debt of around $0.6m, principally on a term basis. Trade receivables (excluding contract assets) were approximately $5.5m.

 

Operational highlights

 

The Group continues to show strong commercial momentum, evidenced by recent contract wins, and now has 19 customers with fully operational software, of which 5 were won in 2019. The latest contract, announced on 2 December with one of the largest global telcos in the world,  is in implementation phase along with two existing customers where additional products are under implementation. The Group's pipeline remains strong at about $16m of which about $6m is from existing customers.

 

The Group continues to evolve and advance its product suite , with mViva CMS version 6.0  becoming operational in one telco, ensuring that it remains a market leading product. Alongside this, we continue to increase our sales presence, with a focus on Central and Latin America and also Asia by the addition of 2 new salesmen. The overall head count is now around 160, with relatively limited attrition during the year in a competitive market.

 

For further information contact:

 

Pelatro Plc


Subash Menon, Managing Director

c/o finnCap

Nic Hellyer, Finance Director




finnCap Limited (Nominated Adviser and Broker)

+44 (0)20 7220 0500

Carl Holmes/Kate Bannatyne/Matthew Radley

Tim Redfern/Camille Gochez/Tim Harper (ECM)


 

 

This announcement is released by Pelatro Plc and, prior to publication, the information contained herein was deemed to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014. Such information is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person who arranged for the release of this announcement on behalf of Pelatro Plc was Nic Hellyer, Finance Director.

 

Financial expectations noted above are preliminary, and subject to year-end financial close and audit review processes.

 

Notes to editors

 

The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement principally to telcos who face a series of challenges including market maturity, saturation and customer churn.

 

Pelatro provides its "mViva" platform for use by customers in B2C applications, and is well positioned in the Multichannel Marketing Hub space (MMH) - this is technology that orchestrates a customer's communications and offers to customer segments across multiple channels to include websites, social media, apps, SMS, USSD and others.

 

For more information about Pelatro, visit www.pelatro.com

 

 

 

 [END]


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