28th Jan 2019 09:59
LONDON (Alliance News) - PCI-PAL PLC on Monday said it expects to report revenue growth in the first half of its current financial year following a series of new contract wins.
The stock was trading 9.3% higher on Monday at 19.13 pence per share.
The payment card data protection firm said that in the six months to the end of December 2018, it has signed new contracts with a combined value of GBP3.4 million, up from GBP680,000 the year prior.
Within that, North American contract wins for the first six months were ahead of management expectations, PCI-PAL said.
In addition to that, the company expects its interim like-for-like revenue to grow by at least 25% year-on-year. In the first half of its financial 2018, PCI-PAL reported like-for-like revenue of GBP1.0 million.
"Over the last six months we have continued to develop a strong partner-led sales pipeline, closed major new enterprise customer accounts, and at the same time made solid progress with investments in our cloud technology and operational capabilities," said Chief Executive James Barham.
"Leveraging our secure cloud payments technology with select and global leading partners is helping us to build our brand, reputation and growth rate internationally," Barham added.
PCI PAL said it will publish its interim results in the week beginning February 18.
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