26th Sep 2018 12:07
LONDON (Alliance News) - Pelatro PLC on Wednesday expressed confidence for the reminder of the year following profit growth in the first half of 2018.
The marketing software company said pretax profit rose to USD1.2 million in the six months to the end of June from USD972,000 reported for the same period a year ago, as revenue climbed to USD2.4 million from USD1.6 million.
The results were helped by a contract win in April from the Swedish telecommunications group Tele2. Under the deal, Pelatro agreed to implement its all-in-one mobile platform mViva for Tele2 and to provide managed services for Tele2's network in Kazakhstan.
Looking forward, Pelatro said it is on track to achieve its revenue target of GBP4.9 million for 2018.
"Our current trading is in line with expectations, and we look forward with confidence with a strong pipeline of sales opportunities currently under negotiation," said Non-Executive Chairman Richard Day.
Pelatro shares were down 0.6% on Wednesday at 83.00 pence each.
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PTRO.L