Pelatro PLC Change to Results Date and COVID-19 Update (2811H)
24 March 2020 - 6:00PM
UK Regulatory
TIDMPTRO
RNS Number : 2811H
Pelatro PLC
24 March 2020
24 March 2020
Pelatro Plc
("Pelatro", the "Company" or the "Group")
Postponement of audited results for full year to 31 December
2019
Update and COVID-19 impact
Pelatro Plc (AIM: PTRO), the Multichannel Marketing Hub software
specialist, announces that following discussions with its auditors,
recent regulatory guidance and in accordance with the announcement
by the Financial Reporting Council ("FRC") of 23 March in which it
encouraged listed companies to delay corporate reports (including
final audited statements), the announcement of the Group's results
for the year to 31 December 2019 will be postponed.
The Company was in a position to meet its previously announced
reporting timetable and reiterates that the Board expects to report
revenue and adjusted EBITDA for the year in line with its
expectations. Further information on a revised timetable for
publication of the results will follow when appropriate guidance
from the Company's auditors is available.
The Company also takes this opportunity to update the market for
the current situation with regard to the impact of COVID-19 on the
Group:
As a software business, we can continue to function efficiently
even if most of the employees are working from home. The Group has
no supply chain dependencies and Pelatro's software products
continue to be available without interruption. With regard to
travel restrictions, whilst traveling is generally helpful to
progress sales opportunities, video conferencing is effective as a
tool to replace physical meetings and customers are of course
understanding of the current situation. With respect to
implementation and support, the Group has always been keen to
minimise the need for on-site activity to minimise costs, hence
implementation and support processes lend themselves very well to
remote handling. The only special requirement is additional VPNs
which are easily provided by customers. Accordingly, current
COVID-19 related travel restrictions are having a relatively
limited effect on our business.
It is not yet clear how widespread the virus will be, how long
the pandemic will last and what the short to medium term effects of
this pandemic will be on the behaviour of our customers; however,
the Directors believe that the telecommunications industry is
likely to be less affected by any economic downturn, whether local
or global, than most, particularly as certain telecoms activities
tend to increase in "stay at home" periods such as end of year
holidays and festivals such as Christmas and Ramadan, generating
more user spending and more targeted marketing. At present the
message we are getting from our telco customers is very much
"business as usual".
The Directors are constantly monitoring the situation and local
developments to manage this risk; we consider that Pelatro is well
placed to deal with the evolving situation and will provide updates
in due course should the Group be materially impacted.
For further information contact:
Pelatro Plc
Subash Menon, Managing Director c/o finnCap
Nic Hellyer, Finance Director
finnCap Limited (Nominated Adviser and
broker) +44 (0)20 7220 0500
Carl Holmes/Kate Bannatyne/Matthew Radley
Tim Redfern / Camille Gochez - ECM
This announcement is released by Pelatro Plc and, prior to
publication, the information contained herein was deemed to
constitute inside information under the Market Abuse Regulations
(EU) No. 596/2014. Such information is disclosed in accordance with
the Company's obligations under Article 17 of MAR. The person who
arranged for the release of this announcement on behalf of Pelatro
Plc was Nic Hellyer, Finance Director.
Notes to editors
The Pelatro Group was founded in March 2013 by Subash Menon and
Sudeesh Yezhuvath with the objective of offering specialised,
enterprise class software solutions for customer engagement
principally to telcos who face a series of challenges including
market maturity, saturation and customer churn.
Pelatro provides its "mViva" platform for use by customers in
B2C applications, and is well positioned in the Multichannel
Marketing Hub space (MMH) - this is technology that orchestrates a
customer's communications and offers to customer segments across
multiple channels to include websites, social media, apps, SMS,
USSD and others.
For more information about Pelatro, visit www.pelatro.com
[END]
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 or visit www.rns.com.
END
NORSEUFWDESSEFD
(END) Dow Jones Newswires
March 24, 2020 03:00 ET (07:00 GMT)
Pelatro (LSE:PTRO)
Historical Stock Chart
From Apr 2024 to May 2024
Pelatro (LSE:PTRO)
Historical Stock Chart
From May 2023 to May 2024