- Telecom company software provider Pelatro warned that it expected to fall short of its revenue expectations for the full year, due to the timing of contract wins.

Revenue in the 2019 financial year was now seen at not less than $6.5m, with $6.3m booked to date.

'The overall pipeline remains strong and while sales cycles have extended somewhat and conversion slowed, opportunities have not been lost, rather they have been shifted into the coming financial year,' Pelatro said.

'The pipeline currently stands at $15.0m, of which some $5.0m is from existing customers and $10.0m from new potential customers.'

The company also announced that it had been selected by a large telecom company, which it didn't name, to implement its contextual marketing platform as well as its unified communication manager software.

The contract wouild be delivered on a managed service basis for an initial period of five years, generating expected total revenue of $10.0m-to-$12.0m.

Pelatro said it would incur certain incremental costs in order to deliver the contract, including some additional recruitment.

At 8:33am: [LON:PTRO] Pelatro Plc share price was -3p at 37p

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