logo-loader
LoopUp Group PLC

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: £0.62

Market: AIM
Market Cap: £33.98 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of LoopUp Group PLC named herein, including the promotion by the Company of LoopUp Group PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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

Remote meetings technology specialist LoopUp Group PLC (LON:LOOP) said profitability in 2018 was “comfortably ahead” of consensus expectations. Co-CEO Steve Flavell gives Proactive London detail on today's trading update and offers insights into LoopUp's expansion plans including new offices...

on 13/2/19

RNS

Second Price Monitoring Extn

4 days, 7 hours ago

Price Monitoring Extension

4 days, 7 hours ago

Holding(s) in Company

1 week, 5 days ago

Holding(s) in Company

3 weeks, 4 days ago

PDMR Dealing

on 22/7/19

2 min read