IN BRIEF: PCI-PAL highlights record new business sales as loss narrows
PCI-PAL PLC - London-based secure payment solutions provider - Pretax loss narrows to £286,000 in the six months to December 31 from £1.6 million a year prior as revenue rises to £10.6 million from £8.4 million. Highlights record first half new business sales at £1.9 million, up 19%. Chief Executive James Barham says results ‘show strong momentum in new business sales, the expansion of our market-leading partner eco-system, and solid progress against our product roadmap objectives for the year.’
Barham continues: ‘Organic growth at greater scale requires investment, and we intend to prudently utilise the profitability of the group to drive continued long term growth momentum, whilst also continuing to consider inorganic growth opportunities.
‘The board remains confident in the company’s prospects and is keenly focused on delivering the group’s near-term objectives whilst also strategically looking ahead to the next 3-5 years and the opportunity to scale the business further, utilising the strong foundations we have built to date.’
Current stock price: 58.00 pence, down 3.3% in London on Tuesday
12-month change: up 2.7%
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