Pelatro PLC - London-based marketing software firm - Wins contract with unnamed Asian telecommunications firm, part of a "large global group" that is an existing customer of Pelatro, for campaign management operations. The contract is recurring in nature, and revenue is expected to be between USD1 million and USD1.8 million over the three-year term, depending on the customer's take up of additional services.
Pelatro adds that it continues to negotiate further contracts and expects any contract wins before the end of 2020 to be for recurring revenue.
"Whilst the company will, therefore, benefit from the smoother and higher quality earnings from this contract profile, it is unlikely that any further contracts won this year will result in significant additional revenue being recognised in 2020," says Pelatro.
Current stock price: 37.00 pence
Year-to-date change: down 48%
By Lucy Heming;Â lucyheming@alliancenews.com
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