Final results for the year ended 31 December 2014

03 June 2015

RapidCloud International plc (AIM:RCI), the computing services, web-hosting and web-solutions provider based in Southeast Asia, announces its final results for the year ended 31 December 2014.

Financial highlights

  • Revenue increased by 57% to RM 17.82 million (approximately £3.18m) (2013: RM 11.34 million)
  • Gross profit increased by 14% to RM 9.67 million (approximately £1.73m) (2013: RM8.46 million )
  • Gross margin at 54% (2013: 75%)
  • Operating profit growth decreased by 34% to RM 3.26 million (approximately £0.58m) (2013: RM 4.95 million)
  • Profit for the financial period after tax and basic earnings attributable to ordinary shareholders increased by 45% to RM 3.67 million (approximately £0.66m) (2013: RM 2.53 million
  • EPS: 20.59sen (£0.04)
  • Cash at year end RM 3.93 million (approximately £0.70m) (2013: RM 6.24 million)

Operational highlights (including post-period end highlights)

  • Earnings enhancing acquisition of web development firm Exxelnet Solutions Pte. Ltd. (now named RapidCloud Singapore Pte. Ltd.) for c. £0.95m
  • Total customers grew by 11.4% to over 42,000 with continued and improved y-o-y high customer retention rate of 75%
  • Increase in enterprise work, moving RapidCloud increasingly up the value chain
  • Appointment of new Head of Sales, formerly of Microsoft Malaysia and Dell Asia Pacific
  • Increase in staff numbers to 160 (31 Dec 2013: 58)
  • Continued product development with launch of products including RapidDocs and RapidDMS
  • Awarded Emerging Business Excellence Award at Sin Chew Business Excellence Awards 2014

Post Period End Highlights

  • Appointment of Cindy Choo to the Board as new Finance Director
  • Contract wins with Air Asia courier services division, a world’s leading printing enterprises and a major Southeast Asia airline for PortalWEB web application platform and logistics management system
  • Strategic marketing partnership with CS Loxinfo PCL, a leading Internet Service Provider in Thailand to market RapidCRM sales automation tool
  • First public sector contract win with the Philippines Government owned institute, Philippine Institute of Certified Public Accountants (“PICPA”)

Founder and Managing Director, Raymond Chee, commented: “2014 saw progressive expansion in customer numbers, our geographic footprint and our service offering. With the successful acquisition and integration of Exxelnet complete, we now have not only a foothold in the key territory of Singapore, but also an expert team of software engineers and digital marketing specialists which are now fully integrated into the enlarged group and whose capabilities have broadened our offering to customers. With this broadened value proposition comes the opportunity to secure higher value work and our enhanced sales team are already beginning to develop a strong new business pipeline.

“Our business continues to be profitable and cash generative and as the business executes its expansion strategy, the Board expects a continued strong performance in 2015.”


For further information, please visit or contact:

RapidCloud International Plc
Raymond Chee, Managing Director
David Cotterell, Chairman
WH Ireland, Nominated Adviser and Broker
Adrian Hadden
Mark Leonard
Tel: +44 (0)20 7220 1666
Walbrook, Financial PR and IR
Paul Cornelius
Guy McDougall
Tel: 44 (0)20 7933 8792

About RapidCloud

RapidCloud, one of the few integrated subscription-based computing solutions providers in Malaysia that offers its services through all three currently available segments of cloud computing. 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 37,000. 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, Thailand and the Philippines and has plans to expand into Indonesia. 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.