PCI-PAL plc (AIM: PCIP), the supplier of contact centre payment solutions which enable organisations to take customer payments securely, de-risking their business from the threat of data loss and cybercrime, is pleased to announce the following trading update ahead of its Interim Results for the six months to 31 December 2016.
Trading Update
Following the sale of the contact centre operations in September 2016, the Group has been solely focused on its PCI-PAL business which has continued to enjoy good momentum in the first half of the financial year. Revenue from continuing operations is slightly ahead of the Board's expectations for the first half, showing growth as expected relative to the comparable period in 2015.
The payment solutions operations have made significant progress in growing the client base with strong order intake in 2016 resulting in an existing order book of 22 contracts for clients in multiple sectors scheduled to go live in 2017. In addition, since 31 December 2016, the Company has secured an international order for the supply of its services to the world's largest electrical heating business. The new client holds significant market share in the domestic appliance industry worldwide.
Notice of Interim Results
PCI-PAL will announce its Interim Results for the six months ended 31 December 2016 on Wednesday 22 February 2017. Those requiring further information should contact Tom Cooper on 020 7933 8780 or [email protected].
Directorate Change
The Company announces that Andy Francombe, Chief Financial Officer, has informed the Board of his intention to step down from the Board following publication of the Interim Results to concentrate on his other business interests, having supported the Company through the sale of the call centre operations in September 2016 and its initial transition to a secure payments solutions provider. Andy has committed to assisting with securing a suitable successor and managing an orderly handover. The Company will provide a further update in due course.
William Catchpole, Chief Executive Officer of PCI-PAL, said:
"Andy has played a key role in executing our recent refocusing of the Group and on behalf of the Board and everyone at PCI-PAL, we would like to thank Andy for his significant help and wish him the very best for the future.
"The Board is encouraged by progress in the business and looks forward to providing further information in its interim results release."
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Notes to Editors:
PCI-PAL is a supplier of contact centre payment solutions which provides products and services enabling organisations to take customer payments securely, to store customer data safely, in particular credit card data, and to de-risk their business from the threat of data loss and cybercrime. PCI-PAL solutions are currently used in more than 60 organisations, many of which are global businesses in the retail, services, and utilities sectors, utilising PCI-PAL technology to ensure they meet industry rules and regulations governing customer data protection.
PCI-PAL floated under the name of CountyWeb.com PLC on the AIM market of the London Stock Exchange in September 2000. The PCI-PAL product suite was launched in 2011 and since the disposal of its contact centre operations in September 2016, the business has been solely focused on its PCI-PAL business.
