27th Jan 2014 10:06
LONDON (Alliance News) - cloudBuy PLC said Monday that it expects its loss for the full year ended December 31, 2013 to be slightly higher than the previous year, as it invested in sales and marketing activities, as well as technical support for the roll out of its e-commerce platform with Visa Inc.
The company, formerly known as @UK, said it had added to its executive management and delivery team since its initial public offering. It said this strengthened management team had helped it to make progress in Asia Pacific.
In the UK, the company saw growth across all areas of its operation as it won more contracts.
Last Monday, the company announced that it had appointed Jonathan Holden, from Visa, as chief executive of its Europe, Middle East and Africa operations.
cloudBuy expects to announce its full-year results March 12.
Shares in the cloud software company were trading down 4.9% at 46.60 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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