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Again, no information of how they plan to repay the 5million loan !!! that's why this will fade away .
From all the sales today looks like a lot of investors are not impressed.
CloudCoCo (AIM: CLCO), a leading UK provider of Managed IT services and communications solutions to private and public sector organisations, is pleased to provide an update on its trading for the year ended 30 September 2023 ("FY23").
Highlights:
·
Revenue expected to be no less than £26.0m (FY22: £24.2m)
·
Trading Group EBITDA1 expected to be in the region of £1.9m (FY22: £1.6m)
·
Signed 42 new logo customers in the year (FY22: 39)
·
110% increase in MoreCoCo ecommerce sales to £4.2m following growth initiatives
·
Identified significant monthly cost savings and efficiencies in acquired businesses
1 earnings before net finance costs, tax, depreciation, amortisation, plc costs, exceptional costs and share-based payments.
The Group delivered a solid performance in line with market expectations against a backdrop of a challenging macroeconomic environment, with revenue expected to have increased to at least £26.0 million (unaudited), growth of 7% over FY22. Trading Group EBITDA1 is expected to have increased by at least 18% to £1.9m (unaudited). The trading performance has been supported by an increase in MoreCoCo ecommerce sales and further cost savings and efficiencies.
With a number of the Group's business customers closing their operating locations, consolidating operations and reducing their employee headcount, the Group has exceeded its expectations in the number of customer contract renewals signed in the year, alongside further growth in new customers. The success of MoreCoCo, the Group's ecommerce website, is a particular highlight, with the initiatives to increases visitors and conversions leading to a 110% increase in sales to £4.2m (FY22: £2.0m) reflecting the global trend towards a next-day ecommerce sales experience for technology goods.
Despite the global economic and political challenges, the Group continued to make significant operational progress in preparation for an acceleration of growth when conditions permit. The Group's sales and support functions have been reorganised and optimised, enabling greater focus and collaboration across the different parts of the business.
In line with long-term market trends, a key focus in the year has been on strengthening the Group's Cybersecurity and Multi-cloud practices through the addition of new talent and partners. The Board believes these to be particularly attractive near-term growth opportunities and is investing the Group's resources in order to capitalise on them. Underlining our confidence in the opportunity ahead, independent sources estimate the UK's cybersecurity market to reach a value of $23.4bn by 2028, registering a CAGR of over 10%2. Similarly, the UK's multi-cloud computing market is cited as the fastest growing in Europe, with the worldwide market set to be worth $76.3bn by 2023, registering a CAGR of 28.3%3.
The Group's previously announced strategic partnership with Ingram
Well that rally didn’t last long !
I think they're going to find it increasingly difficult to keep posting negative comments about the company.
It's taking time for it to come together but I feel Mr Halpin has worked wonders since his arrival.
Every update has seen a positive move forward and I have faith they'll achieve their targets.
Noise elsewhere????
We just don't know why Freddie. But I'm not complaining.
Much more to come Freddie. Maybe we bring the chat over here and avoid the noise made elsewhere?
Best wishes
Beeks
Not posted on here for an age as there's been nothing to discuss. Finally, we're seeing it moving in the right direction.
Well this has to be another 1 m buy this morning. Somebody obviously happy with the company.
I'm happy I'm now in profit again 😁
Rylander, the 1m sell was a buy - published time was 12:39 but due to nms was 13:39. The clue is that the price spiked at the same time. There were very few sells yesterday and I expect the market makers keep a very flat book here.
I've no ide Wheatic, but looks like somebody offloaded a mill shares, maybe to pre orders. I say this because shares in this are not prolific. It says though that 1.3 mill positive buys today, so somebody knows something. Just not us lol
I've no ide Wheatic, but looks like somebody offloaded a mill shares, maybe to pre orders. I say this because shares in this are not prolific. It says though that 1.3 mill positive buys today, so somebody knows something. Just not us lol
Any ideas as to what is going on? Been static and silent for so long on this SP!
Quite so HB and for once in a positive way.
Yes, something brewing
That's more like it - perhaps director buying, seeing the value here.
What I mean is that the share price never gets anywhere near broker targets. I've not once see a share price reach even close to broker targets in 10 years of investing.
Unless there is an acquisition or two this is going to be a very slow few years.
120% increase to current price would be seen by many as a spike!
Allenby finally updated their forecasts.
Looks like sluggish growth unless any sudden sales wins and/or acquisitions:
Also with the share price capped at 2.1p there won't be any sudden large spikes upwards.
https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2023/08/20230801-Allenby-Capital-CloudCoCo-Group-plc-CLCO.L-Update-final.pdf?c3792=on
It may have something to do with the £5 million debt they have had for a few years now that has still not been paid back yet.
So do some people know something? I sure as hell don't and can't understand the drop or the sell off of some holders.
Hi Rylander, no idea either must be a forced seller that's keeping it down that the mm's are well aware of and holding it down. Everything looks great to me, and others seem to agree as well.
https://www.insidermedia.com/news/yorkshire/solid-first-half-for-cloudcoco
https://www.telecompaper.com/news/cloudcoco-h1-revenue-up-11-percent-to-gbp-13-million--1468216
I've no idea what's happening Thumbsup as plenty of buys today outweighing the sells but it's still gone down in price.
Can someone give their opinion on the news and how how the SP has been reflected pls?