|Master Investor Magazine
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The price of shares in AIM-listed marketing firm Pelatro (LON:PTRO) fell 12.45% to 46.40p (as of 14:30) despite the firm reporting a 9% increase in revenues for the year ended 31st October. The company had less than $1 million in cash as of this week with expenditures of around $6 million in 2019.
Non-executive chairman Richard Day commented: “Significant progress has been made by Pelatro this year in developing our product suite, expanding our customer base and broadening our business offering. Our software is now handling and processing the data for over 800 million subscribers from our 19 telco customers in 18 countries around the world, reflecting a step change in our capacity which is a clear validation by the industry of the quality of our mViva system.
Although it is still early in our year, revenue visibility already stands at $4.1m, with an encouraging pipeline of around $18m; despite some uncertainties introduced by the current coronavirus pandemic (which is further elaborated on in our announcement of 24 March 2020 and also below), we are maintaining our momentum in moving towards a revenue sharing business model alongside our licence offering, which gives us every confidence in the coming year and our future“.