"LSE:RCI:RapidCloud made an impressive market debut in 2013, but tax issues and geographical hurdles have kept its share price on a downward trend ever since. However, after making an all-time low in January, the cloud subscription-based computer ..."
The stock of RapidCloud International PLC (LON:RCI) is a huge mover today! The stock increased 23.53% or GBX 5.06 on February 29, hitting GBX 26.56. About 270,758 shares traded hands or 687.55% up from the average. RapidCloud International PLC (LON:RCI) has declined 20.00% since July 29, 2015 and is downtrending. It has underperformed by 12.91% the S&P500. The move comes after 8 months positive chart setup for the GBX 6.17M company. It was reported on Mar, 1 by Barchart.com. We have GBX 46.21 PT which if reached, will make LON:RCI worth GBX 4.57M more.
RapidCloud International Plc is a provider of software solutions to businesses through Southeast Asia. The company has a market cap of 6.17 million GBP. The Firm provides cloud computing, Web hosting, online business services and information technology services. It has 8.68 P/E ratio. The Firm offers three types of cloud computing delivery models, namely Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS) and Infrastructure-as-a-Service (IaaS).
The Company is encouraged by new tendering opportunities which it is being invited to participate in, particularly of a larger scale. Furthermore, the Company has also received positive feedback for its new product developments and expect these to contribute to growth in the business in 2016.
Raymond Chee, Managing Director of RapidCloud commented: "Whilst the period under review was challenging, we believe the Company is now well placed to return to meaningful growth in 2016. All the directors are committed to delivering shareholder value and demonstrated this by electing to receive the scrip dividend earlier in the year.
"The economic environments in which we operate appear to be improving and we believe our enhanced product and services suite is well placed to capitalise on any growth in our target markets. Management is therefore confident 2016 will be a much more positive year for the Company."
Completion of acquisition of Exxelnet Solutions Pte. Ltd.
and Contract Wins
RapidCloud International plc (AIM: RCI), the Southeast Asia based software solutions provider offering subscription services through all segments of cloud computing, announces that on 15 August 2014 it completed the acquisition of Exxelnet Solutions Pte. Ltd ("Exxelnet"), further details of which were announced on 23 July 2014. RapidCloud also announces a number of contract wins.
Completion of acquisition
Exxelnet is a Singaporean web development firm and the acquisition will further expand the Company's geographic footprint, enabling the fast track launch of RapidCloud's services into Singapore, the world's fourth largest financial centre. In addition, RapidCloud will be able to leverage Exxelnet's Search Engine Optimisation (SEO) and Search Engine Marketing (SEM) solutions, to be offered across its offices in Singapore, Malaysia, Thailand, Indonesia and the Philippines. As such, RapidCloud will now be able to offer complete end-to-end solutions to enterprises including infrastructure hosting, back-end software applications, front-end design and Internet marketing.
The acquisition also brings with it a talented team of software engineers, particularly in the field of web search engines, which includes former Google employees. The acquisition is also expected to be earnings enhancing.
RapidCloud is also pleased to announce that it has signed a contract with the registrar of companies for a country in Southeast Asia. RapidCloud is contracted to provide a scalable, high availability cloud environment to the client including managed cloud services .
The Company has also contracted with the courier division of a leading budget airline provide cloud hosting and managed services. RapidCloud will also provide the client with website design services, including the provision of an online airway bill tracking system and accompanying mobile application.
Managing Director and Founder, Raymond Chee commented: "We are delighted to have completed the acquisition of Exxelnet which is now unconditional and provides us with a profitable business in a key strategic territory. Exxelnet is an excellent fit with our existing business and we are confident that the combined Group will benefit greatly from cross-selling and up-selling opportunities.
"In addition, we are pleased to have signed the contracts mentioned above which further demonstrate that we are moving up the value chain and are gaining traction in significant new markets including the public sector."
From February's 'Company Refs', when price was 80p:-
a/ Prospective PE ratio of 12.9 (based on one broker forecast).
b/ Positive cash flow per share of 1.89p.
c/ Cash in the bank.
d/ Turnover up from £0 to £1.69m in two years.
e/ Prospective dividend yield of 1.05%.
Also one of Techinvest's new year tips, with article in December's issue saying that they were winninga multitude of clients, with business booming.
Disappointed to have been unable to buy an initial stake on Wed as dealing size was very low.
Couldn't see the point f only buying a few hundred pounds worth,but I suspect that I will live to regret that !
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