Pelatro PLC Trading Update (9379M)
14 Enero 2019 - 1:00AM
UK Regulatory
TIDMPTRO
RNS Number : 9379M
Pelatro PLC
14 January 2019
Pelatro Plc
("Pelatro", the "Company" or the "Group")
Trading Update for the year ended 31 December 2018
Pelatro Plc (AIM: PTRO), the global Multichannel Marketing Hub
software specialist, is pleased to announce an update on trading
for the year ended 31 December 2018.
The Group is pleased to report that it expects full year
revenues and profits to be in-line with our expectations. Further,
the second half of 2018 was cash positive with improving cash
collection and the Board remains committed to significantly
reducing debtor days. The Group ended the year with $2.2 million in
gross cash and just under $1.8 million in net cash.
During the year ended 31 December 2018, the Company acquired
certain assets of Danateq Pte and Danateq Limited ("Danateq") in
August which increased geographic reach and doubled the Group's
subscriber base. Pursuant to the acquisition, the Group broadened
its product suite with the addition of Danateq's Loyalty Management
Solution and Notification Platform, which complemented the Group's
existing Precision Marketing Solution.
The Group has experienced rapid growth since its inception in
2013 and since the start of 2018, the Company has increased its
number of customers from 6 to 14 today. In addition to new
customers, the Group has had the opportunity to up-sell and cross
sell existing and new products (acquired from Danateq) in the year
and has also entered new geographies, including continued expansion
in Europe.
The Company has experienced significant growth in the year and
the Board is encouraged by its momentum and pipeline with visible
revenue of c. $4.4m for the financial year 2019 and c. $15m in the
pipeline.
The Board expects to release the final results for the year
ended 31 December in March 2019.
Subash Menon, Managing Director & CEO of Pelatro Plc
said:
"We are delighted with the progress made on various fronts
during 2018. During the year we expanded our offering substantially
whilst also increasing our revenues. We are pleased that cash
collection improved significantly resulting in the second half
being cash positive which is in line with our expectation to
significantly reduce debtor days. We are experiencing increasing
momentum which is evidenced by an expanding pipeline. On that
basis, we expect 2019 to be another successful year."
Enquiries:
Pelatro plc Via Walbrook PR
Subash Menon, Managing Director & CEO
Nic Hellyer, Finance Director
finnCap - AIM Nominated Adviser and Broker Tel: +44 (0) 20 7220
0500
Carl Holmes/Kate Bannatyne
Walbrook PR (Media & Investor Relations) Tel: +44 (0) 20 7933
8780
Paul Cornelius / Nick Rome / Sam Allen pelatro@walbrookpr.com
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
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.
Pelatro is expanding by a mix of organic and acquisition led
growth. In August 2018 the Company completed the acquisition of
certain assets of Danateq Pte Ltd (Danateq). This acquisition
doubles the subscriber base to 325 million and brings immediate
entry into Central Europe as well as a large recurring revenue
base. For more information about Pelatro, visit www.pelatro.com
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END
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January 14, 2019 02:00 ET (07:00 GMT)
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