4th Feb 2014 11:30
LONDON (Alliance News) - RapidCloud International PLC said Tuesday that it will meet full-year expectations for the year ended December 31, 2013, with revenues and post-tax profits, excluding one-off initial public offering costs, to be significantly ahead of the previous year.
The cloud computing company floated on AIM in an IPO in August 2013 and said it has since made progress on its strategic objectives of global expansion, increasing sales capabilities and developing its enterprise offerings.
RapidCloud said it had recently hired a new head of sales, as well as a new general manager. Additionally it increased its sales staff numbers in Malaysia and its development staff numbers in the Philippines.
RapidCloud expects to launch its next software product RapidCRM in the first quarter of 2014, and said that it had already won its first customer for the product in Thailand. It expects to the product to begin contributing to revenue starting the second quarter of 2013.
Shares in RapidCloud were trading down 12% at 65.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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