Pelatro describes solid recent trading
Pelatro
1.02p
16:55 28/09/23
Customer engagement and software specialist Pelatro said in an update on Friday that it has secured several new contracts with large customers recently, further bolstering its recurring revenue base.
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The AIM-traded firm, which was holding its annual general meeting, said recent contract wins underscored its continued success in attracting high-profile clients.
As a result, Pelatro now boasted a portfolio of 28 customers, representing a diverse range of industries, contributing to annual recurring revenue (ARR) of more than $7m.
The company added that it had seen strong demand for change requests from its current client base, resulting in contracted revenues of around $1.7m already this year.
“Our pipeline remains strong at around $23m, including some $5m of non-telco prospects - its highest ever level and which we are confident will produce results in the coming months and years,” said non-executive chairman Harry Berry.
At 1423 BST, shares in Pelatro were up 3.83% at 8.05p.
Reporting by Josh White for Sharecast.com.