UK's CloudCoCo soars on upbeat 2022 revenue forecast
27/10/2022 12:20
** Shares of information-technology and communications
services provider CloudCoCo Group CLCO.L soar as much as 46.3%
to 1.39p, highest since May 12
** Stock will post best day since June 2020, if gains hold
** Co sees FY22 revenue to be no less than 24 mln pounds
($27.8 mln), up from 8 mln pounds it reported in FY21
urn:newsml:reuters.com:*:nRSa2575Ea
** Remains confident of strong sales growth and improved
profitability in FY23
** Sees 2022 trading earnings before interest, taxes,
depreciation, and amortisation at around 1 mln pounds vs 745,000
pounds in 2021
** "We continued to make good progress in signing new
business on multi-year terms, hardware sales were ahead of
expectations" - co
** Including session gains, stock down 13% YTD
($1 = 0.8646 pounds)
(Reporting by Amna Karimi in Bengaluru)
((Amna.Karimi@thomsonreuters.com; +91 8083261226;))