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CloudCoCo sees higher core earnings in H2 amid ongoing recovery
StockMarketWire.com
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IT and communications business CloudCoCo said it expected earnings in the second half of the year to be well ahead of the first half amid an ongoing improvement in performance following the impact of the pandemic. Trading earnings before interest taxes, depreciation and amortisation, or EBITDA, a key marker for demonstrating the success of the group's recovery to date, was expected to be well ahead in the second half of the year of the £68,000 achieved in the first half. In the months since the first half, while 'we were not immune to Covid-related industry-wide headwinds as organisations delayed and deferred buying decisions, we delivered a solid trading performance in the circumstances, signing business with both new and existing customers,' the company said. Post-period end, the company said it won an extension of contract with Vantage Motor, one of its largest clients, for an additional three years. 'Despite the continuing uncertainty in the wider environment the Board remains confident of further strategic progress in the current financial year,' the company said.
At 8:47am: (LON:CLCO) share price was 0p at 1.08p
Story provided by StockMarketWire.com
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