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 |
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| Cavendish Capital Markets Limited (Nominated Adviser and Broker) | +44 (0)20 7220 0500 |
| Carl Holmes (Corporate Finance)
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