Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
An announcement from CloudCoCo Group ( (GB:CLCO) ) is now available.
CloudCoCo Group reported a 6% increase in revenue to £27.5 million for the fiscal year ending September 2024, with significant growth in e-commerce sales. The company completed the sale of its IT managed services businesses, CloudCoCo Limited and CloudCoCo Connect Limited, for £7.75 million, which enabled the repayment of debts and strengthened its financial position. This strategic divestment allows CloudCoCo to focus on its e-commerce and IT procurement operations, aiming for long-term growth and profitability. The company is exploring new opportunities in consultancy and investment to broaden its revenue base, despite challenges in the Managed IT Services sector.
More about CloudCoCo Group
CloudCoCo Group is a growth-focused technology company based in Sheffield, specializing in IT procurement solutions. The company offers services through its direct sales team and e-commerce platform, MoreCoCo, providing enhanced efficiency, security, and agility to organizations. With strong vendor partnerships and a team of industry specialists, CloudCoCo delivers tailored IT solutions and next-day access to thousands of IT products.
YTD Price Performance: -11.43%
Average Trading Volume: 537,058
Technical Sentiment Signal: Buy
Current Market Cap: £1.09M
Learn more about CLCO stock on TipRanks’ Stock Analysis page.