RapidCloud International PLC Trading Update and Notice of Results (4658H)
March 16 2015 - 3:00AM
UK Regulatory
TIDMRCI
RNS Number : 4658H
RapidCloud International PLC
16 March 2015
16 March 2015
RapidCloud International Plc
("RapidCloud", the "Company" or the "Group")
Trading Update and Notice of Results
RapidCloud International plc (AIM:RCI), the computing services,
web-hosting and web-solutions provider based in Southeast Asia,
announces that it is trading in line with market expectations.
Trading Update
In 2014 the Company executed its revised strategy to convert
third party associates in the Philippines and Thailand into
operating subsidiaries through management control. This will result
in consolidation in the accounts which will show an increase in
revenue in the year.
In addition, following the Company's successful acquisition of
Exxelnet in August 2014, RapidCloud has successfully fast-tracked
expansion into Singapore, the world's fourth largest financial
centre, where demand for the Company's products and services is
strong. In the period since acquisition, RapidCloud Singapore has
performed in-line with management expectations in terms of profit
contribution for the period and offers Digital Marketing services
to its customers, particularly in the area of Search Engine
Optimisation (SEO). The total number of clients now exceeds 42,000,
following the successful integration of RapidCloud Singapore.
The Company therefore expects to report revenue of RM18.25m, an
increase of approximately 60% over 2013. Net profit, before
exceptional costs relating to the acquisition, is expected to show
growth in line with market expectations.
Outlook
The current financial period has started well with strong uptake
of RapidCloud's products and services to date. The strategy to
target larger enterprises, in addition to expanding core SME
clients, is progressing well as the Company executes its expansion
strategy across territories in South East Asia.
Notice of Results
The Company expects to announce its preliminary results for the
year ended 31 December 2014 in the week commencing 25 May 2015.
Raymond Chee, Managing Director of RapidCloud, said: "2014 was
another year of significant progress on a number of fronts for
RapidCloud and I am delighted to announce trading for the year
shows both operational and financial progress with full year
results expected to be broadly in line with market expectations for
the second consecutive year. We look forward to continuing this
progress in the current year with growing confidence."
For further information, please visit www.rapidcloudasia.com or
contact:
RapidCloud International investorqueries@rapidcloudasia.com
Plc
Raymond Chee, Managing
Director
David Cotterell, Chairman
WH Ireland, Nominated Adviser Tel: +44 (0)20 7220
and Broker 1666
Adrian Hadden
Mark Leonard
Walbrook, Financial PR Tel: 44 (0)20 7933
and IR 8792
Paul Cornelius rapidcloud@walbrookpr.com
Guy McDougall
About RapidCloud
RapidCloud provides computing services, web-hosting and
proprietary web-solutions, such as web-site building and e-commerce
solutions. The Company is based in Southeast Asia and is one of the
few solutions providers in the region to deliver its offerings
through all three available Cloud Computing segments, i.e.
Software-as-a-Service, Infrastructure-as-a-Service and
Platform-as-a-Service.
Formed in 1999, the Company has a well-established cloud
offering with a customer base of over 42,000. These are
predominantly SMEs but also include blue-chip clients such as
Deloitte, BAE Systems and Canon, for which RapidCloud's extensive
R&D department creates bespoke software solutions.
RapidCloud currently has operations in Malaysia, Singapore,
Indonesia, Thailand and the Philippines. According to industry
research commissioned by RapidCloud from Frost & Sullivan in
2013, the Cloud Computing industry in Asia Pacific is expected to
grow at a CAGR of 49.6% between 2013 and 2015, giving a market size
of US45.6 billion by 2015. RapidCloud International plc was
admitted to AIM on 14 August 2013.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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