Cloudcall losses widen despite growing revenues

(Sharecast News) - CloudCall saw its losses widen in the six months leading to 30 June despite the strong trading it enjoyed throughout the period.The computer telephony integration specialist saw revenues increase 30% to £4m, with recurring revenues jumping 37% year-on-year.CloudCall revealed that its annualised revenue run rate had surpassed £9m in June and that recurring or repeating revenues now made up 89% of its total income.However, CloudCall's LBITDA widened 25% to £1.5m and the group's net cash balance was eroded by more than half to £2.4m.The AIM-listed group said positive trading had continued into the second half of the year, with trading for the full year expected to be in line with management expectations.CloudCall's non-executive chairman Peter Simmonds, said: "We continue to see growth in the number of end users adopting CloudCall's technology, further demonstrating the quality of our product.""In addition, we have seen a clear trend that, once the CloudCall service is adopted by a customer, it subsequently gains significant traction and uptake across further users and departments and will soon have the extra revenue opportunities presented by the newly developed messaging platform."As of 1200 BST, CloudCall shares had fallen 5.99% to 113.75p.