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23 Jul 2019 | 09:13

PCI-PAL forecasts annual loss in line with market expectations

Payments company PCI-PAL said it expected to post a full-year loss that was in line with market expectations.

Closing cash at the end of the company's 20 June financial year was £1.5m, down from £3.8m on-year.

Trade debtors were £1.1m, up from £0.5m, and closing deferred revenue increased to £2.5m, up from £1.1m.

PCI-PAL said the rise in deferred revenue was providing increased forward revenue visibility, reflecting the long-term recurring nature of the company's business model.

New contracts signed worldwide in the year had a total value of £5.6m, up from £1.7m on-year.

At 9:13am: (LON:PCIP) PCIPAL Plc share price was +0.5p at 34p

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