Loopup Group (LOOP)

Sector:

IT Services

Index:

FTSE AIM All-Share

0.65p
   
  • Change Today:
    -0.040p
  • 52 Week High: 3.24
  • 52 Week Low: 0.55
  • Currency: UK Pounds
  • Shares Issued: 204.89m
  • Volume: 2,399,104
  • Market Cap: £1.33m

LoopUp FY revenue and profits seen ahead of consensus

By Iain Gilbert

Date: Thursday 01 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Hybrid communications platform operator LoopUp Group now expects to wrap up the first half with a year-on-year drop in profits but better-than-expected revenues, while full-year profitability and revenue were forecast to beat current market consensus estimates.
LoopUp said on Thursday that it now expects revenues of approximately £6.6m for the six months ended 30 June, at a gross margin of approximately 67%, and an underlying loss of approximately £1.5m. Net debt was approximately £8.0m on 30 June, prior to the receipt of a research and development tax credit of roughly £1.9m that it expects to receive within the next 60 days.

The AIM-listed group also said it had entered into a revenue sharing and customer transfer agreement with conferencing services provider PGi Connect, with LoopUp holding the right to take over materially all of its client's conferencing services customers, but not its webcasting customers.

LoopUp stated there was no initial or fixed consideration payable to PGi Connect for the transfer of its customers to LoopUp but stated it had agreed to pay PGi a share of revenue invoiced and received from successfully transferred customers for a period of three years.

For the twelve months from October 2022 to September 2023, LoopUp expects the agreement to generate approximately £10.0m in revenues, at a gross margin of approximately 60% after both LoopUp's cost of goods sold and payment of PGi Connect's revenue share, and provide a net cash contribution of approximately £5.0m over the period after other associated cash costs.

As of 1125 BST, LoopUp shares had surged 29.48% to 8.74p.





Reporting by Iain Gilbert at Sharecast.com

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Loopup Group Market Data

Currency UK Pounds
Share Price 0.65p
Change Today -0.040p
% Change -5.80 %
52 Week High 3.24
52 Week Low 0.55
Volume 2,399,104
Shares Issued 204.89m
Market Cap £1.33m

Loopup Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.60% above the market average74.60% above the market average74.60% above the market average74.60% above the market average74.60% above the market average
76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average
Price Trend
96.34% below the market average96.34% below the market average96.34% below the market average96.34% below the market average96.34% below the market average
97.87% below the sector average97.87% below the sector average97.87% below the sector average97.87% below the sector average97.87% below the sector average
Income Not Available
Growth
62.86% below the market average62.86% below the market average62.86% below the market average62.86% below the market average62.86% below the market average
77.27% below the sector average77.27% below the sector average77.27% below the sector average77.27% below the sector average77.27% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Loopup Group Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:27 280,000 @ 0.68p
16:14 6,142 @ 0.64p
16:08 744,544 @ 0.70p
14:52 1,093,282 @ 0.68p
14:20 1,540 @ 0.64p

Loopup Group Key Personnel

CEO Steve Flavell
CEO Michael Hughes

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