LONDON (Alliance News) - Pelatro PLC on Tuesday reported doubled revenue and profit in 2018 boosted by the acquisition of Danateq Group Ltd .
The marketing software company said pretax profit for 2018 more than doubled to USD2.5 million from USD1.1 million a year prior, as revenue jumped to USD6.1 million from USD3.2 million.
In 2018, the company also managed to double its subscriber base to 325 million and increase customers to 12 following the acquisition of streaming platform provider Danateq in July last year for USD7.0 million.
"This first full year as an AIM-quoted public company has been one of progress and significant achievement for Pelatro, at both the operational and strategic levels," said Non-Executive Chair Richard Day.
Pelatro floated on the London Stock Exchange in mid-December 2017, after raising GBP3.8 million in its initial public offering at 62.5 pence per share.
The stock was flat on Tuesday at 90p a share.
"Visibility over some USD5.2 million of revenue and a USD15 million pipeline, gives us every confidence as we look forward to the rest of the year," added Day.