Pelatro confident of meeting FY revenue targets

Software firm Pelatro said on Monday that customer activity had continued throughout the summer, including various new change requests set to be delivered in 2021.

Pelatro stated that some of its existing managed services contracts contained provisions for gain share revenue both over and above the minimum contractual payments, with these provisions now producing "attractive revenue" for the firm and demonstrating the efficacy of its software solutions.

The AIM-listed group highlighted that the resulting additional revenue gave its board "full confidence" in meeting revenue targets for the full year, with current visibility standing at approximately $7.2m.

Managing director Subash Menon said: "We are seeing real momentum in our business and continue to build our work-in-progress pipeline to secure and underpin our ongoing and expanding operations."

As of 1000 BST, Pelatro shares were up 2.88% at 41.15p.