Published on: October 22, 2019
Solid progress but headwinds remain
LoopUp announced a decent set of interim results for the six months to June 2019. The group is seeing good levels of end-market adoption and customer wins, but issues previously described (in particular lower levels of customer activity) continue to constrain growth. Guidance is clear – revenue growth of 26% and EBITDA margins of 15% for FY19E – so we alter forecasts to reflect this. In some ways, it is a relief to see that the challenges are not worse – and the group is adjusting to this new “more difficult” world.