REG - Pelatro PLC - Trading Update

PelatroAnnouncement

25/09/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230925:nRSY4380Na&default-theme=true

RNS Number : 4380N  Pelatro PLC  25 September 2023

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTVZLBLXKLZBBD