StockMarketWire.com - IT and communications solutions provider CloudCoCo reported narrower losses as cost cuts in the first half of the fiscal year eased the pandemic impact.

The company also said Mike Lacey would be stepping down as chief financial officer for personal reasons. Darron Giddens, previously group finance director, would replace Lacey as CFO.

For the six months ended 31 March 2021, pre-tax losses narrowed to £0.67 million from £1.57 million, while revenue fell £4.14 million from £4.43 million.

The company reported 'material overhead savings versus the first half of the previous financial year.'

'The business is in good health, both operationally and in the pipeline of opportunities ahead of us, the company said.

'There will continue to be challenges to overcome, but we will meet them head on and remain confident of making further progress in the second half and beyond,' it added.

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