PTRO.L Share News (PTRO)

(Sharecast News) - Software outfit Pelatro said on Friday that it has been chosen by an Asian telco for its campaign management operations.
Pelatro said the contract with telecommunications provider was recurring in nature and included a variety of services as well as the software product itself.

Over the contract's three-year term, revenue was expected to be between $1.0m and $1.2m, depending on the mystery customer's take-up of additional services.

In terms of recent trading, Pelatro said operations had stabilised and were now beginning to progress well with respect to development, implementation and support but noted that sales processes had been affected due to the inability to travel.

Pelatro also noted that impacts to revenues stemming from its re-positioning from a company reliant on one-off revenues to one dependent on recurring revenues were now behind the firm and added that it now looks forward to "a return to healthy revenue growth in 2021 and beyond".

The AIM-listed group also highlighted that results for 2020 were expected to be in line with guidance, with modestly positive adjusted underlying earnings and gross cash of approximately $1.8m and trade receivables just under $3.7m.

As of 1010 GMT, Pelatro shares were up 9.83% at 38.99p.