Pelatro PLC Trading Update (5350K)

TIDMPTRO

RNS Number : 5350K

Pelatro PLC

06 September 2021

6 September 2021

Pelatro Plc

("Pelatro" or the "Group")

Trading update

Pelatro Plc (AIM: PTRO), the precision marketing software specialist, is pleased to announce a trading update ahead of the release of the interim results for the six months ended 30 June 2021.

Customer activity has continued throughout the summer months, including various new change requests which will be delivered in 2021. Additionally, some of the Group's existing managed services contracts contain provisions for gain share revenue for Pelatro over and above the minimum contractual payments - these provisions are now producing attractive revenue for the Group, again demonstrating the efficacy of our software solutions and their value to our customers. The resulting additional revenue gives the Directors full confidence in meeting its revenue target for the year, with current visibility standing at approximately $7.2m.

Following the equity fund raise in July, the Group has begun its investment in people and marketing in our "Non Telco" space (where non telco brand campaigns and adverts are sent to consumers via their mobile phone), and to date has hired two people, including a senior manager with 12 years' relevant experience who is heading the team. Discussions are underway with prospective customers and we are encouraged by the level of engagement.

Commenting on these developments, Subash Menon, Managing Director and CEO said:

"We are seeing real momentum in our business and continue to build our work-in-progress pipeline to secure and underpin our ongoing and expanding operations."

A further update will be given at the time of release of the interim results, which is expected towards the end of this month.

For further information contact:

 
 Pelatro Plc 
 Subash Menon, Managing Director                      c/o Cenkos 
 Nic Hellyer, Finance Director 
 
 Cenkos Securities plc (Nominated Adviser 
  and Broker)                                [phone] 
 Stephen Keys / Mark Connelly (corporate 
  finance) 
 Michael Johnson (sales) 
 

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 and B2B applications, and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of the telcos through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.

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

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September 06, 2021 02:00 ET (06:00 GMT)