CloudCoCo Reports Revenue Growth and Leadership Change

Cloudcoco Group Plc (GB:CLCO) has released an update.

CloudCoCo Group Plc, a prominent UK Managed IT services provider, posts a 7% revenue increase to £26.0 million for FY 2023, with a notable 19% rise in Trading Group EBITDA to £1.9 million. The company’s e-commerce platform MoreCoCo experienced an 85% surge in sales, reaching £3.7 million, reflecting a demand for rapid technology product delivery. Following the departure of CEO Mark Halpin, Ian Smith steps in as Interim CEO, while the company looks forward to leveraging strategic partnerships and an extended loan note repayment schedule to drive future growth.

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