5th Feb 2020 11:26
(Alliance News) - PCI-PAL PLC on Wednesday said an increased demand for its services boosted revenue growth in the first half of financial 2020.
The secure payment solutions provider said revenue grew over 70% to more than GBP2 million in the six months to the end of December versus GBP1.2 million a year earlier.
During the first half, the AIM-listed company said it has signed new contracts worldwide with a recurring annual contract value of GBP1.2 million. Total contract value of new customers signed in the period grew by 18% to GBP4.0 million, PCI-PAL noted.
"In the last six months we have continued to execute on our channel strategy as more of the partner arrangements we have put in place begin to produce new sales pipeline and customer contracts," explained Chief Executive James Barham.
He added: "Looking forward, the board is confident that we will continue the momentum built in the first half against key metrics and that the company's strategy and market positioning means it is well placed to continue the progress made in the last 12 months."
PCI-PAL shares were trading 2.4% higher in London on Wednesday at 43.50 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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