StockMarketWire.com - Call centre technology group CloudCall posted a full-year loss after rising revenue was more than offset by higher operating costs.

Pre-tax losses for the year though December amounted to £3.7m, compared to losses of £3.8m on-year, even as revenue rose 30% to £11.4m.

'During the first two months of 2020, trading was in-line with expectations, but with the escalation of the coronavirus crisis in March and particularly since countries have been going into lockdown, we've started to see some new sales opportunities postponing decisions,' chief executive Simon Cleaver said.

'This has been partially offset by a flurry of orders from existing customers preparing for their staff to work from home, but we expect this to be relatively short lived.'

'In comparison to many companies CloudCall is well placed to weather this pandemic.'

'Our products and services are extremely relevant in the current climate, particularly as they allow customers' staff to work remotely with full access to systems that they would use in their normal place of work.'

Cleaver said the company had adopted measures to significantly reduce current operating cash burn down to around £250k per month by May 2020.


At 2:01pm: [LON:CALL] Cloudcall Group Plc share price was -0.5p at 74p



Story provided by StockMarketWire.com