24 Jun 2020 07:00
LOOPUP GROUP PLC("LoopUp Group" or the "Group")
AGM Statement
LoopUp Group plc (AIM: LOOP), the premium remote meetings company, is pleased to provide the following statement ahead of its Annual General Meeting (AGM) at 10am today, 24 June 2020.
In our trading update on 6 May 2020, we noted a material increase in business volumes, driven by the large-scale migration towards working from home associated with the Covid-19 outbreak, and expressed our confidence in exceeding prevailing market expectations in terms of revenue, EBITDA and cash generation for the current financial year to 31 December 2020.
Since that update, the Group has continued to trade materially above pre Covid-19 levels. Whilst it remains difficult to predict near term developments in working practices and business climate, we do now nevertheless expect to exceed revised market expectations in terms of revenue, EBITDA and cash generation for the current financial year.
The Group will provide a more quantitative update of the first half's trading to 30 June 2020 during mid-July 2020. The Group will also hold a special virtual shareholder event after that announcement, further details of which will be announced by RNS in due course.
The Group is proud to be helping its customers with their business-critical communications in these challenging times, by providing simple, reliable and secure products that are diligently operated and supported. We would like to thank our team for their incredible and ongoing efforts.
Market abuse regulation:
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 |
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Steve Flavell, co-CEO |
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Panmure Gordon (UK) Limited |
+44 (0) 20 7886 2500 | |
Dominic Morley / Alina Vaskina (Corporate Finance) |
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Erik Anderson (Corporate Broking) |
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Numis Securities Limited | +44 (0) 20 7260 1000 |
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Simon Willis / Jonny Abbott (Corporate Finance) |
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FTI Consulting, LLP | +44 (0) 20 3727 1000 |
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Matt Dixon / Emma Hall / Jamille Smith / Shamma Kelly |
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About LoopUp Group plc:
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. The solution provides a reliable, secure and incredibly simple experience that is optimised for external guests on business-critical meetings, such as professional services firms' communications with their clients. Over 5,000 organisations worldwide trust LoopUp's award-wining SaaS solution with their remote meetings, including more than 20 of both the world's top-100 law firms and top-100 private equity firms, as well as enterprises such as Travelex, Kia Motors, Planet Hollywood and National Geographic. The Group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Sydney and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.