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Well very welcome news indeed I must admit. Now hopefully all the uncertainty behind us as we enter a growth challenge totally debt free with the large overheads out the way! Yes a massive chunk of turnover goes with it but we need to look at the positives. Morecoco has been fast growing, they have a sales team devoted to bringing more large commercial buyers into morecoco. They have a massive existing client base to tap into for new business and I’m sure further acquisitions are being sought again down the line IMHO. We really need a decent CEO now to orchestrate the business back to the highs again and this time round we’re 💯% Debt Free!! Plus £1 million cash in the bank I honestly reckon a 12 month review target should be held to see what the BOD can now focus on! IMHO DYOR

As long as not too much damage is done and he’s still on talking terms then there’s always the possibility of a come back. We will only know when we se how MXC can perform without him! IMO

We are still awaiting to see how the company performs now MXC is in charge. Maybe Mark just dumped a load of his shares! It is nice to see that the price didn’t drop that much we could indicate it was a buy. Whatever it is until we get clear direction of growth for the company then we’re just flying into the wind IMO. We will await to see whether MXC are just holding the fort to recover their debt or whether the true potential of Cloudcoco will be fully realised. Either way we will all know the answers over the next 12 months IMHO I’m not as confident now as I was when Mark was in charge!! Let’s hope I’m proved wrong!!

Are you saying that a company can legally sell shares and then just decide to privatise and steal them back again?

Correct me if I'm wrong but back in 2019 with the takeover there was a debt of APPX. 4 million due to be repaid oct this year with no talk of it going up. However Mxc have kept the debt creeping up. Meanwhile marks get fit get well regime was about getting the company into profit. So why the heck have Mxc who own 10% shares tried to destroy it with greedy interest??? They are completely shooting themselves in the foot they are the destroyers from what I see. I hope mark stays around as sometimes taking a break can be positive. Mxc are behaving like it was destined to fail back in 2019 imho

Really hoping for some great results here as there has been a mix of buys and sells. I along with many others have been here since the takeover back in 2019 where the SP has subsequently dropped. We really need some good news to cheer everyone up as we know the fundamentals are great and we’re in a multi billion pound market. Let’s hope the BOD can reward us faithfully share holders with some good solid results as we move into profit and plans to clear any debt. Onwards and upwards all the way!!

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

Just doing a bit of research here if they are using such high tech computing solutions how come their website is out of date as it’s still saying 2021. Also no mention of any people when clicking on the team page here https://quantumblockchaintechnologies.co.uk/about-qbt

Yes a nice rise today but why should anyone invest here?

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

Can someone give their opinion on the news and how how the SP has been reflected pls?

Let’s hope CLCO the fastest growing tech company reflects in the fastest growing share price - now that would be nice:)

https://www.insidermedia.com/news/yorkshire/yorkshires-fastest-growing-tech-businesses-revealed

I think also the price has dropped in recent months due to a large seller and now some nice buys coming in so hopefully we’ll beat the all time highs and see the new 25mil turnover reflected in the SP. Currently valued at 8mil there needs to be a rerate at some point.

Sure lavenonews I agree let’s hope the upcoming news will be positive and profits announced:)

Good article on Mr Halpin here https://techblast.co.uk/opinion/critics-used-to-say-i-was-cuckoo-but-not-anymore/

CloudCoCo Plc in strategic partnership with Ingram Micro Cloud!!

Looking forward to discussing our multi-cloud capabilities at the Ingram Micro Cloud #gcis event in Las Vegas next week. If you are there and would like to meet me, Lee T. or Gary Saunders then get in touch.

Special thanks to just some very kind people for backing up their words with action - Ovi Gherghel , Issam Bhathal and Matthew Wood

CloudCoCo Plc in strategic partnership with Ingram Micro Cloud

Yorkshire first, Global second :)

#multicloud #ingrammicrocloud #microsoftazure #aws #googlecloudplatform

https://twitter.com/cloudcocoPlc/status/1656910178590113793

https://cloudcoco.co.uk

It still baffles me how a company with a turnover of 25 mill is still only worth 8 mill with an SP of 1p - surely a re-rate is coming!! Or they would be prime to be bought out!

I won't be reviewing any sell position until we are at least well into double digits!! However long that may be I'm in for the ride!!

Great words from a great leader! This is going to rocket over the next 12 months I'm sure. The question is will the SP hit double digits, or not? Da da derr... These guys don't mess about and I'm sure behind the scenes there is plenty of action going on. Anyone wanting to do a bit of research, look at what Mark and his team delivered at Redcentric in their many fruitful years there! IMHO DYOR Onwards and upwards all the way! We remain in faith.

Mark Halpin

CloudCoCo Plc named fastest growing Yorkshire Tech company. Could not be prouder of the team and I am even more fired up for this next chapter as there are no limits to what we can achieve together. Thank you to every one of our amazingly hard working team, every business that trusts us to manage their technology, every amazing partner and every person that has worked with us and supported us on our journey so far.

YORKSHIRE’S FASTEST GROWING TECH BUSINESSES REVEALED

A listed IT and communications firm, a digital transformation specialist and the company behind a popular mobile football game are among the businesses to feature in Insider's ranking of the region's fastest-growing technology companies.

The Fast Tech 50 list features in the latest edition of Yorkshire Business Insider and ranks digital technology businesses based on their revenue growth.

The 2023 list is topped by listed IT and communications services provider CloudCoCo. The Leeds-based company's revenue increased to £24.2m in the year ended 30 September 2022, up 198 per cent from £8.1m in 2021.

Growth followed the acquisitions of IDE Group Connect and Nimoveri from IDE Group Holdings, as well as Systems Assurance and More Computers in 2021.

Chief executive Mark Halpin told Insider the company was now aiming to "build our business from £25m to £100m revenue through a plan of organic growth with new customers joining our revolution, providing more value to our existing customers and acquiring more businesses that give us scale, extra talent and innovative capabilities".

hTtps://www.insidermedia.com/news/yorkshire/yorkshires-fastest-growing-tech-businesses-revealed

Wow check this out!! Tialis RNS out today giving a lovely mention to Cloudcoco

· Via our partnership with CloudCoCo two large charities started large lifecycle contracts across all users within their organisations.

https://www.lse.co.uk/rns/TIA/final-results-r80e3cklzlsn17m.html

Here’s also a bearing factor which is keeping the SP low and will need to be resolved before we achieve double digits and where we should be. Btw the whole report is a really good read:

Page 59
As part of a refinancing in October 2019, MXCG, acquired £3.5 million loan notes of the Company, the terms of which were varied such that interest is charged at 12% compound per annum rolled up and payable only at the end of the term, which was also extended to October 2024 with no repayment due until that date unless the Company chooses to pay early. At 30 September 2022, the Company owed MXCG £4.9 million (2021: £4.4 million) in respect of the loan notes.
2023 Report
https://cloudcoco.co.uk/wp-content/uploads/2023/03/CloudCoCo-Group-plc-2022-Full-Report-FINAL.pdf

We need to see that repaid. Would be lovely to see that this happen earlier, especially with all this extra turnover coming in. At least it all looks like we’re heading in the right direction.