LSE Regulatory News MORE NEWS

£1,475,700 Funding
May 25, 2017
the final £1,475,700 of the total £5,750,000 funds available has been drawn down under the interest bearing loan
read more
NOTIFICATION OF MAJOR INTEREST IN SHARES
May 23, 2017
cloudBuy plc, the global provider of cloud-based e-commerce marketplaces and B2B buyer and supplier solutions, today provides an notifications of major interests in shares
read more
NOTIFICATION OF MAJOR INTEREST IN SHARES
May 23, 2017
cloudBuy plc, the global provider of cloud-based e-commerce marketplaces and B2B buyer and supplier solutions, today provides an notifications of major interests in shares
read more
Directorate Change
May 15, 2017
cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, announces that Jonny Holden, Chief Operating Officer, will leave by mutual consent...
read more
Second Interest Payment
Apr 27, 2017
cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, announces that pursuant to the Financing announced on 24 March 2016...
read more

Audited Final Results for the 12 months ended 31 December 2012

Jun 05, 2013

Embargoed for 7:00am release

@UK PLC
(“@UK” or the “Company”)

Audited Final Results for the 12 months ended 31 December 2012

@UK PLC (AIM:ATUK.L), the cloud eCommerce marketplace, today announces its audited final results for the 12 months ended 31 December 2012.

Key Points

Financial:

  • Revenues decreased by 6% to £2.219m (2011: £2.353m) due mainly to a slowdown in company formations
  • High gross margin ecommerce revenues increased by 7% to £1.18m (2011: £1.106m)
  • Loss before tax increased to £850k (2011: £177k) due to investment in overseas expansion and technology and contract win payments slipping from 2012 into 2013
  • Net Assets decreased to £123k (2011: £469k)
  • Cash positive in Q1 2013

Operational:

  • Signing of partnership agreement with Visa
  • Rebranding to cloudBuy.com and cloudSell.com for global rollout
  • Strong performance in eCommerce, our core business, in the year has been offset by a slowdown in company formations
  • Indian operation launched and profitable in the year
  • Australian operation launched in collaboration with Visa and profitable in year to date
  • US office opened in year to date
  • First implementation of Care Marketplace live
  • @UK named as approved supplier within three UK public sector frameworks
    • UK Government’s G-Cloud framework (1, 2 and 3)
    • Four year national ecommerce framework agreement for all UK public bodies
    • Care Marketplace/Directory framework

Ronald Duncan, Executive Chairman, commented, “It has been a busy year, both in the UK and overseas as we begin to establish a global brand. The relationship with Visa and its member banks gives us real credibility and we are confident that these partnerships combined with the considerable investment made this year in both our technology and international expansion will result in significantly improved future results.

“The market for our services appears to be at an inflection point and we are certainly seeing buyers who are much more technically literate, as they become increasingly confident about using the web for purchasing at home.  The convergence of B2C with B2B has been anticipated, but in 2012 we could clearly see that change was happening.  Our challenge in 2013 is to harness that change and direct our resources to where we can best monetise the opportunities.”

Download the full RNS   Download Annual Report 2012