LoopUp Group PLC Trading Update (4027U)
January 18 2017 - 2:00AM
UK Regulatory
TIDMLOOP
RNS Number : 4027U
LoopUp Group PLC
18 January 2017
18 January 2017
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Trading Update
Group announces year-end trading ahead of expectations
LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings
company, is pleased to provide the following trading update for its
financial year ended 31 December 2016.
Subject to audit, the Group has traded ahead of market
expectations as follows:
FY2016 FY2015
Year-on-year
GBP million (unaudited) (audited) growth
--------------------- --- ------------- ----------- -------------
LoopUp Revenue(1) 12.8 9.2 39%
Total revenue 13.6 10.1 34%
Gross profit 10.3 7.5 37%
Gross profit margin
(%) 76% 74%
EBITDA(2) 2.1 1.0 101%
-------------------------- ------------- ----------- -------------
1) LoopUp Revenue is revenue from the LoopUp product and
associated value-added add-on capabilities, and so excludes
discontinued BT technology licensing revenue.
2) Earnings Before Interest, Taxation, Depreciation and Amortisation.
Highlights
-- LoopUp Revenue grew 39% in FY2016, an increase in growth rate
from 36% in FY2015 and 38% in FY2014.
-- The Group's net cash position as at 31 December 2016 was
GBP2.2 million compared with GBP2.7 million immediately after its
IPO in August.
-- The Group enjoyed continued success in the legal and
financial professional services sectors. Landmark customer wins
included a global 'magic circle' law firm and a North American
financial services firm.
-- The Group maintained its track record of 'negative net churn'
- i.e. net growth - in its established customer base of customers
that are at least one year old.
-- As indicated at IPO, investments were made to increase the
number of new business acquisition 'Pods' (to 7.25 Pods by the
year-end), recruit a new London-based marketing team, and continue
to innovate its differentiated product. Group staff totalled 116 by
the year-end, up from 96 at mid-year. This accelerated investment
has been made while continuing to meet the Board's targets for
profit growth.
-- New business acquisition Pods improved further on the already
strong return-on-investment efficiency metrics seen in 2015.
-- The newly formed marketing team launched a new corporate
website which included re-designed LoopUp branding and refreshed
messaging and positioning.
-- In November, the Group released a major new product version,
which further enhanced its streamlined and intuitive user
experience.
Going into 2017, the Group continues to see strong demand for
the LoopUp product and is confident in its ability to deliver
future growth.
Capital Markets Day
The Group will host a Capital Markets Day for analysts and
institutional investors at its London headquarters at 2.30pm on
Wednesday 25 January 2017 with presentations by the Group's
executive management team. If you would like to attend, please
contact Melissa.Hall@fticonsulting.com.
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 / Chris Lane / Roger
Newby
About LoopUp Group plc:
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution.
Streamlined and intuitive, LoopUp is built for the needs of
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,
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. For
more information, visit www.loopup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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