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Fantastic results and not much of a free float either:
Shareholder Number of shares:
Percentage held :
Mark Halpin and Caroline Halpin 140,713,578 28.41%
MXC Capital Markets LLP 75,066,275 15.16%
Andy Mills 32,724,088 6.61%
Gresham House Asset Management Ltd 22,706,510 4.59%
Darren Weston 19,115,916 3.86%
Graham Collinson 17,452,847 3.52%
Andrew Barnes 15,336,083 3.10%
Michelle Weston 14,610,381 2.95%
Other:
Simon Duckworth (NEC***) 6,900,000 1.25%
Tom Black 8,842,199 1.93%
Hi Candid, Good to see you here to! Been keeping an eye on this one since the Cloud aquisistion. Looks like a great buy and it's been quickly added to the bottom line. One of the best RNS's I've read for a while! Some very impressive numbers.
Revenue of £4.43m, up 44% against the previous six-month period (H2 2019: £3.08m, H1 2019: £4.18m)
Recurring revenue of £2.79m, up 31% on the previous six-month period (H2 2019: £2.13m, H1 2019: £3.02m)
BOOHOO wonder who the car franchise is heard BMW
Signs of a turnaround here, growing revenue and margins.
Some major client wins, with Boohoo and a major UK car franchise dealership (why didn’t they announce these contract wins to the market? it would have resulted in better support)
Asset value £5.7m v a current market cap of only £4m
Latest buy offer was 1.075.
That will do for a start.
A great set of results, I also like the fact that they acknowledge that comms have been poor, however they basically say 'We have been busy'
Words i love to hear...
"Recurring revenue"
"reflecting early successes in prioritising multi-year over single-year deals"
BOD have got it! Exactly what is needed to turn the company strongly positive.
Great results. Back on track. Should see this rise nicely today and beyond.
I wasn't expecting to say this but happy with whatI've read. Genuine progress.
Revenue of £4.43m, up 44% against the previous six-month period (H2 2019: £3.08m, H1 2019: £4.18m)
Recurring revenue of £2.79m, up 31% on the previous six-month period (H2 2019: £2.13m, H1 2019: £3.02m)
X2 new big contracts announced woohoo surely this has to get the SP back on track!!! Well done BOD
Well, better than I expected!
Happy days, now to see what the markets make of it.
GLA
CloudCoCo Group plc
("CloudCoCo", "the Group" or "the Company")
Interim Results
CloudCoCo (AIM: CLCO), a UK provider of IT and communications solutions to businesses and public sector organisations, announces its unaudited interim results for the six months ended 31 March 2020.
Financial highlights
The six months prior to the period under review have been included for comparison to help investors gauge the initial progress the business has made since the completion of the acquisition of CloudCoCo Limited on 21 October 2019 and the introduction of a new management team.
·
Revenue of £4.43m, up 44% against the previous six-month period (H2 2019: £3.08m, H1 2019: £4.18m)
·
Recurring revenue of £2.79m, up 31% on the previous six-month period (H2 2019: £2.13m, H1 2019: £3.02m), a key focus for the Group in becoming a sustainable growth business
·
Total contract value ("TCV") signed of £3.33m, up 158% against the previous six-month period (H2 2019: £1.29m, H1 2019: £1.37m), reflecting early successes in prioritising multi-year over single-year deals
·
Positive Trading Group EBITDA1 of £68k from a loss of £250k in the previous six-month period (H2 2019: loss of £250k, H1 2019: profit of £15k)
·
Pre-tax loss reduced to £1.57m from a loss of £5.59m in FY2019 (H1 2019: loss of £1.21m)
·
Cash at bank of £0.27m at 31 March 2020 (H2 2019: £0.31m, H1 2019: £0.84m) and £0.4m undrawn working capital facility
·
Net assets of £5.69m at 31 March 2020 (H2 2019 negative £1.11m, H1 2019 £2.92m)
1 earnings before net finance costs, tax, depreciation, amortisation, plc costs, separately identifiable items and share-based
income and payments
Operational highlights
·
Acquisition of CloudCoCo Limited on 21 October 2019
·
Rebrand and change of name to CloudCoCo Group plc on 29 November 2019
·
Refinancing of the Group's debt reducing loan note debt from £5m to £3.5m and extension of new £0.5m working capital facility
·
Appointment of new CEO, Mark Halpin, and CFO, Michael Lacey
·
Encouraging early progress made against new strategy both operationally and commercially
·
5-year cyber security management deal with a major operator of franchised car dealerships
·
Voted Zen Internet New Partner of the Year
Post-period highlights
·
Move to new Leeds office completed in June
·
3-year cyber security management deal with major online fashion retailer, boohoo
·
Resilient trading during pandemic but experiencing industry-wide headwinds
·
Growing recurring revenue and margin, together with cost reduction measures means the business is well-positioned to withstand the current situation
Simon Duckworth, non-executive chairman of CloudCoCo, commented:
"The new management team has made a promising start, implementing positive changes across the business an