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