AD4 Adept4 Plc

TIDMCLCO

RNS Number : 1723P

Cloudcoco Group PLC

16 February 2021

16 February 2021

CloudCoCo Group plc

("CloudCoCo" or "the Group")

Notice of results and update on trading

CloudCoCo (AIM: CLCO), a UK provider of IT and communications solutions to businesses and public sector organisations, announces it expects to publish its results for the year ended 30 September 2020 in the week commencing 1 March 2021.

Following on from the update on trading provided on 8 December 2020, the Board is pleased to report continued progress in the new financial year to 30 September 2021 as the Group enters the 'get fit' phase of its development, with a greater focus on business development.

Revenue generation in the first quarter has been strong with the acceleration of new and renewal business driving improved profitability. In addition, Trading Group EBITDA(1) is significantly ahead of that achieved in the same period last year. The sales pipeline continues to be healthy despite the challenging economic environment, underpinning the progress being made in the Group's turnaround.

(1) earnings before net finance costs, tax, depreciation, amortisation, plc costs, exceptional costs and share-based payments

 
 Contacts 
 
 CloudCoCo                                  via Alma PR 
 Mark Halpin, CEO 
 Michael Lacey, CFO 
 
 N+1 Singer (nominated adviser & broker)    +44 (0)20 7496 3000 
 Peter Steel 
 
 Alma PR (financial PR adviser)             +44 (0)20 3405 0205 
 David Ison                                 cloudcoco@almapr.co.uk 
 Josh Royston 
 Kieran Breheny 
 

About CloudCoCo

Supported by a team of industry experts and harnessing a diverse ecosystem of partnerships with blue-chip technology vendors, CloudCoCo makes it easy for businesses and public sector organisations to work smarter, faster and more securely by providing a single point of purchase for their cloud, cyber security, connectivity, collaboration, IT hardware and support needs.

CloudCoCo has offices in Warrington and Leeds in the UK.

www.cloudcoco.co.uk

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February 16, 2021 02:00 ET (07:00 GMT)

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