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PCI-PAL PLC on Wednesday said new contracts in the financial year drove up its annual revenue. The Suffolk, England-based global cloud provider of secure payment solutions for business communications expects its pretax loss for the year ended June 30 to narrow to £2.3 million from £2.9 million a year prior. PCI-PAL added it expects revenue of £14.9 million, up 25% from £11.9 million a year ago, driven by new contracts worth £2.7 million and annual contract values sales of £4.2 million, up 21% from the year before. Chief Executive Officer James Barham said: ‘PCI Pal has delivered another strong year. We have again proven the effectiveness of our strategy to be the market leader in secure payment solutions for the business communications space. ‘We remain highly confident in our position on the unfounded patent claim being brought against us by a competitor, and we look forward to the UK court’s ruling in the near future.’ Shares in PCI-PAL were down 1.2% at 50.90 pence each in London on Wednesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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