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25 Sep 2023 07:00
25 September 2023
Pelatro Plc
("Pelatro" or the "Company")
Trading Update
Pelatro announces that it has been experiencing certain delays in completion of projects as a result of deliverables from the Company taking slightly longer than expected and hardware procurement by customers experiencing delays. Consequently, revenue for 2023 is now expected to be c.$7m, against previous management expectation of $8m for the year with the balance expected to be recognised in the next financial year. It is also expected that the Company will make a loss of c.$1m at the Adjusted PBT level for the current financial year.
This information is based on a detailed evaluation of all current projects and discussions with the relevant customers, prior to a board meeting at the end of last week.
The Company's pipeline remains strong at around $23m, including some $5m of non-telco prospects.
For further information contact:
Pelatro Plc | |
Subash Menon, Managing Director | c/o Cavendish |
| |
Cavendish Capital Markets Limited (Nominated Adviser and Broker) | +44 (0)20 7220 0500 |
Carl Holmes (Corporate Finance)
|
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
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