Leeds-based CloudCoCo's revenues rise as it focuses on 'green shoots' of recovery
CloudCoCo saw its revenues rise over the last financial year as it focuses on 'green shoots' of recovery.
CloudCoCo., which is a provider of IT and communications services to businesses and public sector organisations, has announced its final results for the year ended 30 September 2020.
Over the year, revenue increased by 10% to £8.0m. After plc and exceptional costs, together with amortisation and interest charges, the company delivered a reduced pre‐ tax loss of £3.0m, compared with a loss of £5.6m the year before.
Simon Duckworth, non‐executive chairman of CloudCoCo, commented: “I am delighted with what the team have been able to achieve, in what was a year of significant upheaval and change for everyone at CloudCoCo under particularly challenging circumstances.
"Through careful planning, consistent hard work, determined execution, and by fostering a positive and collaborative working environment, we have made some significant progress in turning the business around in a remarkably short space of time.
"We are still in the early stages of our long‐term plan, but there are green shoots clearly emerging. With a focused strategy in place to continue making progress, we are confident we are now on the right path to unlocking the immense potential in this business.”