- Payments group PCI-PAL posted a full-year loss after a rise in sales was offset by investment in its growth plans.

Pre-tax losses for the year through June amounted to £4.35m, compared to a loss of £4.50m on-year. Revenue rose 56% to £4.40m.

The company did not declare a dividend.

Gross margin increased to 69.2%, from 60.2%, which the company said reflected a continuing transition of its service delivery mix to the higher-margin Amazon Web Services platform.

PCI-PAL said it had made a strong start to the new fiscal year, its revenue run rate for the two months through August up 41% on-year.

'I am very pleased with the significant progress that we have made this year, particularly considering the entirety of our final quarter was during the heights of the initial impacts of Covid-19,' chief executive James Barham said.

'Despite this we have been able to continue our momentum, evidenced by the signing of 37 new customer logos in our fourth quarter alone.'

'Our early adoption of cloud technologies in our space, and our commitment to channel, is enabling us to service the entire contact centre market within our focus territories, and it is this differentiator that will see us continue our progress towards cash generation and profit breakeven under the current plan as we look forward to another year of substantial revenue growth.'

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