cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, expects to announce full results for the year ended 31 December 2017 on 16 March 2018. The Directors expect the EBITDA loss to be around half that of the previous year. Revenue for the year is expected to be below market expectations, whilst EBITDA is expected to be broadly in line with market expectations with the shortfall in revenue being almost offset by cost reduction measures.
Year end cash is expected to be £2.5m after the receipt of £1.7m funding from Roberto Sella in December 2017.
Ronald Duncan Executive Chairman and CIO commented “Whilst 2017 was another difficult year for the Company, we have continued to execute our strategy of focus and simplification to half our EBITDA loss whilst dedicating the major resource required to deliver the PHBChoices contract with our customer NHS Shared Business Services.”
For further information, please contact: cloudBuy plc
David Gibbon, CFO
Tel: 0118 963 7000
Arden Partners plc – NOMAD and broker
Paul Shackleton/ Daniel Gee - Summons
Tel: 020 7614 5900
About cloudBuy plc
cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and sellers – and brings them together to trade securely and ethically via an increasing number of public eMarketplaces and private purchasing portals around the world, powered by cloudBuy technology. cloudBuy solutions for buyers help B2B purchasers understand and control their spend, to reduce costs and increase value. Our cloudSell solutions enable sellers of all sizes, from startups to corporates, reach new customers and grow their business.
cloudBuy’s technology platform powers web sites, public marketplaces and private purchasing portals that enable all types of online interactions and relationships including, citizen and business to government; consumer to business; and business to business.
For more information, visit: www.cloudbuy.com .