StockMarketWire.com - Remote meetings company LoopUp said it expected to report results in line with expectations as lower user activity in the US weighed on performance.

The company expected to report revenue and earnings (EBITDA) broadly in line with market expectations at £42.5m, up from £34.2m in 2018, and £6.4m, up from £7.7m, respectively.

The update came as the company said the UK performance had steadied, but macro headwinds were now affecting its US business.

Following a 2% decline year-on-year in US minutes per active user declined in the first half of the last year, this worsened to 8% in the second half, the company said.

'This impact is unsurprising given the group's focus on professional services sectors, such as law, corporate finance and private equity,' the company said.

The group was expected to announce its preliminary 2019 results on 19 March 2020.


At 8:04am: [LON:LOOP] Loopup Group Plc share price was -5.5p at 77p



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