LoopUp sees annual profit 'comfortably' beating market expectations

Writer, Stock Market Wire
Tuesday, February 12, 2019 - 14:36

Remote meetings company LoopUp Group said its annual profits would be 'comfortably ahead' of market expectations, with revenue in line.

A project to transition the MeetingZone audio conferencing business over to the LoopUp platform continued to progress well, with an overall transition expected done by the summer, the company said. 'We're very pleased to report continued strong business performance with transformational revenue growth, and profitability ahead of consensus expectations,' co-chief executives Steve Flavell and Michael Hughes said.

'Notwithstanding this profitability growth, we've also been investing in growing the team to accelerate our expansion into new geographic markets, and we're very excited to have opened new offices in Chicago, Dallas, Los Angeles, Atlanta and Madrid this month.'

'Looking ahead into 2019, we continue to see strong demand for the LoopUp product and remain confident in our ability to deliver future growth.'

At 2:36pm: (LON:LOOP) Loopup Group Plc share price was +27.5p at 352.5p

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