StockMarketWire.com - IT and communications services provider CloudCoCo narrowed losses as a shift to prioritise longer-term contracts bolstered revenue.

For the six months ended 31 March 2020, pre-tax losses narrowed to £1.57m from £1.21m on-year as revenue jumped 44% to £4.43m.

Total contract value signed was up 158% to £3.33m, reflecting 'early successes in prioritising multi-year over single-year deals,' the company said.

'We expect demand for our products and services to evolve as organisations seek to adapt to the "new normal," it added.

At 8:58am: [LON:CLCO] share price was +0.3p at 1.05p



Story provided by StockMarketWire.com