CloudCoCo PLC (AIM:CLCO), the AIM-listed e-commerce and IT procurement business, saw its shares rise 14% to 0.19p after it reported a 30% increase in first-half revenue and a sharp improvement in underlying profitability.
The Sheffield-based company, which delivers next-day IT solutions through its Systems Assurance and MoreCoCo brands, said revenue for the six months to 31 March 2026 climbed to £4.4 million, from £3.4 million a year earlier.
Growth was driven principally by MoreCoCo, the company's e-commerce platform offering a broad catalogue of IT hardware.
Trading group earnings before interest, tax, depreciation and amortisation rose to £89,000, from £26,000 a year earlier, which the company attributed to its simplified operating model.
CloudCoCo held a cash balance of £283,000 at the end of March, before a £275,000 share subscription in April.
The company has earmarked those funds for growth, including Project Brightstar, a strategic initiative designed to accelerate its expansion into the business-to-business technology procurement market.
CloudCoCo said the project had built a qualified pipeline of more than £2.5 million in potential contract revenues and secured its first win in June.
Chairman Simon Duckworth said the results showed the company's simplified, debt-free model was beginning to deliver.
He added that his own participation in the April fundraise reflected his confidence in the business.
The company said it remained confident in its ability to progress towards sustainable profitability.