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LoopUp's 2018 profits were "comfortably ahead" of market expectations

In line with the group's vigorous sales pod expansion plan, it has opened new offices this month in Chicago, Dallas, Los Angeles, Atlanta and Madrid

Conferencing software
LoopUp and MeetingZone are now fully integrated into a unified organisational structure

Remote meetings technology specialist LoopUp Group PLC (LON:LOOP) said profitability in 2018 was “comfortably ahead” of consensus expectations.

Revenue was in line with market expectations, the technology firm added.

WATCH: LoopUp's 2018 profits were "comfortably ahead" of market expectations

The acquisition of MeetingZone in May has proved transformational for the group and the group is well on the way to migrating the MeetingZone audio conferencing business over to the LoopUp platform; expectations are that the migration will be completed by the summer of this year.

The group said it continues to see strong demand for the LoopUp product. Landmark accounts won in the second half of the year include Australia's largest law firm; a US-headquartered medical non-profit organisation operating in 43 countries; and a leading global brokerage company with joint headquarters in London and New York."

READ: LoopUp dials up strong first half as MeetingZone acquisition delivers

He added: “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,” declared Steve Flavell and Michael Hughes, the co-chief executives of LoopUp Group.

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

Quick facts: LoopUp Group PLC

Price: 60.5 GBX

AIM:LOOP
Market: AIM
Market Cap: £33.42 m
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Watch

LoopUp enjoying strong start to second half with major new contract wins

Steve Flavell, co-chief executive of LoopUp Group PLC (LON:LOOP) caught up with Proactive to discuss the remote meetings technology firm's first half results. The AIM-quoted company saw underlying earnings (EBITDA) almost double to £1.6mln (H1 2016: £0.9mln), thanks in part to an improved...

on 6/9/17

2 min read