Losses fall at ATUK

Cloud commerce company ATUK has cut losses and won several big contracts to push its share price up significantly.

Revenues in 2011 increased by 15% to £2.4m (2010: £2.1m), while the loss after tax decreased by 84% to £0.09m (2010: £0.55m).

The Company's ecommerce business, its main growth engine, delivered a stronger than expected performance with a 65% growth in revenues.

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@UK has also won the "NHS Sustainability" contract to work out the carbon footprint of Britain's national health service. The firm is also a major player in university and local authority procurement, offering a platform for the public sector to buy through its "Cloud Platform".

At 10:49 the shares had risen 5.7%. Over the last 12 months the stock is still down 10.4%.

BS