Cloudbuy PLC Trading Update (7189C)
January 24 2018 - 1:00AM
UK Regulatory
TIDMCBUY
RNS Number : 7189C
Cloudbuy PLC
24 January 2018
cloudBuy plc
("cloudBuy" or the "Company")
Trading Update
for the year ending 31 December 2017
cloudBuy, the global provider of cloud-based eCommerce
marketplaces and B2B buyer and supplier solutions, expects to
announce full results for the year ended 31 December 2017 on 16
March 2018. The Directors expect the EBITDA loss to be around half
that of the previous year. Revenue for the year is expected to be
below market expectations, whilst EBITDA is expected to be broadly
in line with market expectations with the shortfall in revenue
being almost offset by cost reduction measures.
Year end cash is expected to be GBP2.5m after the receipt of
GBP1.7m funding from Roberto Sella in December 2017.
Ronald Duncan Executive Chairman and CIO commented "Whilst 2017
was another difficult year for the Company, we have continued to
execute our strategy of focus and simplification to half our EBITDA
loss whilst dedicating the major resource required to deliver the
PHBChoices contract with our customer NHS Shared Business
Services."
For further information, please contact:
cloudBuy plc Tel: 0118 963 7000
David Gibbon, CFO
Arden Partners plc - NOMAD Tel: 020 7614 5900
and broker
Paul Shackleton/ Daniel
Gee- Summons
About cloudBuy plc
cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and
sellers - and brings them together to trade securely and ethically
via an increasing number of public eMarketplaces and private
purchasing portals around the world, powered by cloudBuy
technology. cloudBuy solutions for buyers help B2B purchasers
understand and control their spend, to reduce costs and increase
value. Our cloudSell solutions enable sellers of all sizes, from
startups to corporates, reach new customers and grow their
business.
cloudBuy's technology platform powers web sites, public
marketplaces and private purchasing portals that enable all types
of online interactions and relationships including, citizen and
business to government; consumer to business; and business to
business.
For more information, visit: www.cloudbuy.com .
This information is provided by RNS
The company news service from the London Stock Exchange
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