LoopUp Group warns on profits amid macro-economic factors

Writer,

Remote meetings company LoopUp Group warned on profits amid as macro-economic factors weighed on revenue growth.

The company said it continued to see 'strong' demand for its products, but warned that it now expected revenue and earnings (EBITDA) for the full year to be approximately 7% and 20%, respectively, below market consensus.

The company blamed the dour outlook on subdued revenue across its long-term customer base, mainly driven primarily by general macro-economic factors, and more senior quota-carrying pod staff than expected being diverted into management and training activities required to accommodate the dramatic increase in the number of pod staff.

The company said it expected revenue in 2019 to be weighted approximately 48% in H1 2019 and 52% in H2 2019.

At 8:24am: (LON:LOOP) Loopup Group Plc share price was -102.5p at 132.5p


Related content

LoopUp expects annual performance to exceed market expectations

Remote meetings company LoopUp said it expected annual performance to exceed market expectations as it continued to trade 'materially' above pre Covid-19 levels.

'Whilst...

Wed, 24/06/2020 - 08:55


LoopUp upgrades outlook on profit amid coronavirus-led surge in demand for remote meetings

Remote meetings company LoopUp upgraded its outlook on profit after reporting a surge in revenue following a 'material' increase in business volumes as the Covid-19...

Wed, 06/05/2020 - 10:05


LoopUp expects performance to meet its expectations as US business activity slows

Remote meetings company LoopUp said it expected to report results in line with expectations as lower user activity in the US weighed on performance....

Mon, 24/02/2020 - 08:04


LoopUp adjusted profits rise; downgrades full-year guidance

Remote meetings company LoopUp reported a first-half loss and downgraded its annual guidance owing to market uncertainty.

Pre-tax losses for the six months through June...

Tue, 17/09/2019 - 09:27


Fast growing small caps for 2019

Author: 

Despite all the uncertainty created by Brexit the latest reading from the Quoted Companies Alliance/YouGov Small & Mid-Cap Sentiment index suggests most small and medium-sized...

Thu, 20/12/2018 - 00:00