StockMarketWire.com - Cloud-based software business CloudCall said it expected to generate 'modest' revenue growth for the year amid improving market conditions.

The company said it 'is now confident that it can expect to deliver modest revenue growth for 2020, which will continue to build in 2021.' But it refrained from providing guidance for 202, citing onogoing uncertainty surrounding the speed of any recovery and the possibility of a second wave of the virus.

The upbeat guidance came as first-half losses widened on higher costs.

For the six months to 30 June 2020, pre-tax profit losses deepened to £2.6m from 1.8m on-year, while revenue rose 11% to £5.8m.

Operating costs rose 20% on-year on increased investment in sales, marketing, product development and a bolstering of the executive management team, the company said.

The average customer size was up 5% to 32.1 users, and gross margin increased to 80% from 78%.


At 9:32am: [LON:CALL] Cloudcall Group Plc share price was -1.5p at 79.5p



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