Pelatro PLC Post close trading update (5119A)
22 Enero 2020 - 1:00AM
UK Regulatory
TIDMPTRO
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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END
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January 22, 2020 02:00 ET (07:00 GMT)
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