- Payments company PCI-PAL said it had grown its annual revenue by over 55% but downgraded its guidance for the current financial year, citing uncertainty caused by the Covid-19 crisis.

Revenue for the year through June 2020 was expected to be around £4.4m, up from £2.8m on-year.

PCI-PAL said that some ongoing delays in decision-making and contract signing had created some uncertainty as to the timing of both new deals being signed and implementation timing of new and recent contract wins.

'Whilst we remain confident of delivering significant year on year growth in the 2021 financial year, given the current environment, it is prudent to adjust our market guidance downwards for the year to account for these factors,' it said.

Still, PIC-PAL said it remained confident in the long-term strength of its market opportunity and now expected to grow revenue by 50-60% in the 2020 financial year.

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