LoopUp Group PLC Trading Update (1131M)

TIDMLOOP

RNS Number : 1131M

LoopUp Group PLC

26 July 2017

26 July 2017

LOOPUP GROUP PLC

("LoopUp Group" or the "Group")

Trading Update

Strong half year trading

LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, is pleased to provide the following trading update for the six months ended 30 June 2017.

The Group has traded strongly as follows:

 
                                  Six months     Six months 
                                          to             to 
                                     30 June        30 June 
                                        2017           2016 
                                                                Year-on-year 
                                                               like-for-like 
 GBP million                     (unaudited)    (unaudited)           growth 
------------------------  ---  -------------  -------------  --------------- 
 LoopUp Revenue(1)                      8.65           6.00            44.2% 
 LoopUp Gross Profit(1)                 6.65           4.42            50.3% 
 LoopUp Gross Profit 
  margin (%)(1)                        76.8%          73.7%         +310 BPS 
 LoopUp EBITDA(1, 2)                    1.61           0.89            81.4% 
-----------------------------  -------------  -------------  --------------- 
 

1. LoopUp Revenue, LoopUp Gross Profit and LoopUp EBITDA are revenue, gross profit and EBITDA respectively from the LoopUp product and associated value-added add-on capabilities, and so exclude discontinued BT technology licensing business. Total revenue, gross profit and EBITDA for H12016, inclusive of GBP0.38m discontinued BT technology licensing revenue, were GBP6.38m, GBP4.80m and GBP1.27m respectively. H12017 numbers are unaffected as the BT technology licensing business discontinued in November 2016.

   2.    Earnings Before Interest, Taxation, Depreciation and Amortisation 

Steve Flavell, co-CEO of LoopUp Group, commented,

"We're very pleased to report continued strong growth for the first half of 2017. LoopUp Revenue is up 44% (FY2016: 39%, FY2015: 36%); like-for-like gross margin is 310 basis points higher; and like-for-like EBITDA is up by 81.4%.

"This continued growth reflects the enterprise market's response to LoopUp's highly differentiated product strategy. Rather than taking a one-size-fits-all approach to business conferencing needs, LoopUp is designed specifically for the mainstream majority who struggle every day with cumbersome dial-in numbers and codes. LoopUp guides them to a less painful, premium meeting experience by keeping things simple and not over-burdening them with unnecessary features.

"Looking ahead into the second half of 2017, we continue to see strong demand for the LoopUp product and we remain confident in our ability to deliver future growth."

The Group will announce its Interim Results on Wednesday, 6 September 2017.

Market abuse regulation:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

For further information, please contact:

 
 LoopUp Group PLC                        via FTI 
 Steve Flavell, Co-CEO 
 
                                         +44 (0) 207 
 Panmure Gordon (UK) Limited              886 2500 
 Dominic Morley / Alina Vaskina / 
  William Wickham (Corporate Finance) 
 Erik Anderson / Amy Sarra (Corporate 
  Broking) 
 
                                         +44 (0) 203 
 FTI Consulting, LLP                      727 1000 
 Matt Dixon / Roger Newby 
 

About LoopUp Group plc:

LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. Streamlined and intuitive, LoopUp is built for business users and delivers the quality, security and reliability required in the enterprise. One-click screen sharing and integration with tools business people use every day, like Outlook(TM), make it easy for LoopUp users to collaborate in real time. LoopUp's award-winning SaaS solution doesn't overwhelm users with features, and doesn't require training. Over 2,000 enterprises worldwide, including Travelex, Kia Motors America, Planet Hollywood, National Geographic, and Subaru trust LoopUp with their remote meetings.

The Group is headquartered in London, with offices in San Francisco, New York, Boston, Hong Kong and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 26, 2017 02:01 ET (06:01 GMT)