PTRO Pelatro Plc

TIDMPTRO

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.

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END

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(END) Dow Jones Newswires

September 25, 2023 02:00 ET (06:00 GMT)

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