LoopUp Group warns on profits amid macro-economic factors


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

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