Published on: November 27, 2020

Non-core revenue drags run-rate down

LoopUp has published a trading update detailing a modest miss for FY20, but a materially lower-than-expected run rate as the business moves towards FY21.  The shortfall is attributable almost entirely to a faster-than-expected and more dramatic decline for the LoopUp meetings product in sectors outside the core focus Professional Services segment.  We make reductions in estimates to reflect this revised outlook – clearly this is disappointing, but there are a number of positives within the parts of the business likely to drive long-term value.