Remote meetings technology company LoopUp Group PLC (LON:LOOP) had a strong first half to 2017, with revenue, earnings and margin strongly ahead of last year.
Revenue from its flagship audio conferencing product rose to £8.65mln from £6.00mln in the same period of last year, representing like-for-like growth of 44.2%.
Underlying earnings (EBITDA) rose to £1.61mln from £890,000 the previous year, while the gross profit margin climbed to 76.8% from 73.7%.
"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,” said Steve Flavell, co-chief executive officer of LoopUp Group.
"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."