Timing of Results and Trading Update
24 June 2016
RapidCloud International Plc (AIM: RCI), the enterprise cloud computing services and web-solutions provider based in Southeast Asia, announces that it intends to publish its annual results for the year to 31 December 2015 (the "Period") in the week commencing 27 June 2016.
Following discussion with its auditors, the Company has taken a more conservative view on depreciation, amortisation, deferred tax and deferred revenue in the Period. The impact of these changes is that profitability for the Period is expected to be below current market expectations.
Trading for 2016 has commenced well and a further update will be provided in the results announcement next week.
For further information, please visit www.rapidcloudasia.com or contact:
|RapidCloud International Plc
Raymond Chee, Managing Director
David Cotterell, Chairman
|WH Ireland, Nominated Adviser and Broker
|Tel: +44 (0)20 7220 1666|
|Walbrook, Financial PR and IR
|Tel: 44 (0)20 7933 8792
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 43,000. 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, Indonesia, Singapore, 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.
For further information, please visit www.rapidcloudasia.com