- Wednesday, October 16, 2024
London-listed payment-services provider, PCI-PAL, has announced that it anticipates its fiscal 2023 results to meet expectations after experiencing a boost in sales from new contracts during the second half of the year. The company predicts its revenue for the year ending June 30 to reach £14.9 million ($19.0 million), a significant increase from the previous year's £11.9 million. Furthermore, PCI-PAL expects its adjusted pretax loss to narrow, with projections indicating a decrease from £2.9 million to £2.3 million.
During the second half of the year, the group secured new contracts worth £2.7 million, contributing to a total new business annual contract value sales of £4.2 million for the 12-month period. This represents a growth of 21% compared to the previous fiscal year.
As of June 30, PCI-PAL had a net cash balance of £1.2 million.
Chief Executive, James Barham, expressed confidence in the company's performance, stating, "The board is very pleased with the momentum being shown by the business and we look ahead with confidence to fiscal 2024."
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