Richard Day, Non-executive Chairman of Pelatro commented:
“Since our AIM flotation at the end of last year, we have maintained momentum, with an expanded customer base, a significant acquisition and an enhanced product offering. Our current trading is in line with expectations and we look forward with confidence with a strong pipeline of sales opportunities currently under negotiation.”
Pelatro Plc (LON: PTRO), the precision marketing software specialist, today announced today its interim results for the 6 months ended 30 June 2018.
Financial highlights
· Revenue up 53% to $2.38 million (H1 2017: $1.55 million)
· EBITDA* increased 42% to $1.47 million (H1 2017: $1.04 million)
· Profit before tax increased 24% to $1.2 million (H1 2017: $972,000)
· Earnings per share 4.4¢ (H1 2017: 5.1¢), reflecting new shares issued pre IPO
· Net cash as at 30 June 2018 $1.6 million (at 30 June 2017: $347,000); approximately $530,000 received from debtors since period end
· Adjustment (credit) to reported profits in first half of approximately $517,000 due to change to IFRS 15 revenue recognition (expected largely to reverse in second half)
* earnings before interest, tax, depreciation, amortisation and exceptional items
Operational highlights
· In April 2018 the Group won its largest contract from the Swedish telco group Tele2, both to implement mViva and to provide managed services for its network in Kazakhstan. This is the Group’s largest contract to date and also provides an opportunity for Pelatro to showcase its capabilities in managed services
Post period end highlights
· In August 2018 the Group announced the acquisition of certain assets (principally customer contracts and products) from the Danateq Group. The acquisition expands Pelatro’s geographic footprint and also broadens the Company’s product suite and underling subscriber base. As a result of the acquisition 32 people from Danateq joined the Pelatro team
· The acquisition also brings two large and well respected telco groups, Telenor and SingTel, as customers
· Pelatro has re-positioned its product offering as a Multichannel Marketing Hub. This has considerably improved the Group’s positioning in the market, with a campaign management solution, a loyalty management solution and an intelligent notification manager, thereby leading to more opportunities for growth
