("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."
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
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Walbrook PR (Media & Investor Relations)
Tel: +44 (0) 20 7933 8780
Paul Cornelius / Nick Rome / Sam Allen
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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