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LoopUp earnings up 81.4%

By BFN News | 08:18 AM | Wednesday 26 July, 2017


First half revenues at LoopUp Group, the premium remote meetings company, rose to £8.65m - up from £6.0m a year ago. Gross profits rose to £6.65m from £4.42m and EBITDA increased by 81.4% to £1.61m. Co-chief executive Steve Flavell said: "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." At 8:18am: (LON:LOOP) Loopup Group Plc share price was +8.5p at 170p Story provided by StockMarketWire.com

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