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WANdisco records loss in H1 amid investments in major partnerships

By BFN News | 07:50 AM | Thursday 17 September, 2020


Data firm WANdisco recorded an operating loss of $17.7m as it invested in major partnerships with Microsoft and Amazon Web Services. Loss after tax for the period decreased to $14m from $16.7m in H1 2019, due to an exceptional finance gain of $3.9m and decreased share-based payment charge, offset by increased overheads. Cash overheads increased as WANdisco made "modest investments" in its sales and engineering departments to "capitalise on the opportunities with our cloud partners". Overheads rose to $17.9m, from $15.5m in the first half of 2019. The company has secured several new contracts, some worth in excess of $1m each, to help major companies migrate their systems onto the cloud. Story provided by StockMarketWire.com

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