Page 1

9 June 2021 CloudCoCo Group plc ( " CloudCoCo " , " the Group ” or “ the Company " ) Interim Results CloudCoCo ( AIM : CLCO ) , a UK provider of IT and communications solutions to businesses and public sector organisations , announces its unaudited interim results for the six months ended 31 March 2021 . Financial highlights . • Revenue of £ 4.14m ( H1 2020 : £ 4.43m , H2 2020 : £ 3.54m ) Trading Group EBITDA¹ increased 435 % to £ 364k ( H1 2020 : £ 68k , H2 2020 : £ 193k ) • Pre - tax loss of £ 0.67m ( H1 2020 : loss of £ 1.57m , H2 2020 : loss of £ 1.39m ) Cash at bank of £ 0.57m at 31 March 2021 ( H1 2020 : £ 0.27m ) and £ 0.4m undrawn working capital facility 1 earnings before net finance costs , tax , depreciation , amortisation , plc costs , separately identifiable items and share - based income and payments Operational highlights • Resilient response to the impact of Covid with some colleagues choosing to continue to work remotely Secured multi - year contract extensions with Vantage Motor Group and Baywater Healthcare , two of CloudCoCo's largest clients by revenue • Maturation of cost actions linked to ' get well ' phase now delivering annual savings . ' CoCo - One ' people initiative progressing well with introduction of performance - based share options scheme and the alignment of technical teams in Warrington and Leeds offices Post - period highlights • Continued demand for the Group's services and growing pipeline • Appointment of Nigel Redwood , former CEO of AIM - listed Nasstar PLC , as Strategic Consultant ( a non - board position ) in line with the Board's decision to begin reviewing options to scale the business Board changes • As announced earlier today , Darron Giddens , Group Finance Director , replaces Mike Lacey as Chief Financial Officer and member of the Board Mark Halpin , CEO of CloudCoCo , commented :