TIDMLOOP

RNS Number : 1119T

LoopUp Group PLC

23 March 2021

23 March 2021

LOOPUP GROUP PLC

Date Change for Results

LoopUp Group plc (AIM: LOOP), the cloud platform for premium external communications, announces a delay to its unaudited preliminary results for the year ended 31 December 2020.

The delay relates to a routine technical review by the Group's auditor, Grant Thornton, that has not been completed in time for the preliminary release, regarding the amortisation treatment of intangible assets from the acquisition of MeetingZone in 2018.

For the avoidance of doubt, this is a non-cash, technical accounting review and the Group reconfirms in line FY2020 results: revenue of GBP50.2 million (FY2019: GBP42.5 million); EBITDA of GBP15.3 million (FY2019: GBP6.4 million); year-end gross cash of GBP12.1 million (FY2019: GBP3.0 million); and net debt of GBP0.7 million (FY2019: GBP11.5 million).

The Group is working with its auditors to complete the review and will provide clarity on a revised date for our preliminary results as soon as possible.

 
LoopUp Group plc                            via FTI 
Steve Flavell, co-CEO 
 
  Panmure Gordon (UK) Limited                 +44 (0) 20 7886 2500 
Dominic Morley / Alina Vaskina (Corporate 
 Finance) 
Erik Anderson (Corporate Broking) 
 
                                            +44 (0) 20 3727 
FTI Consulting, LLP                          1000 
Matt Dixon / Emma Hall / Jamille Smith / 
 Shamma Kelly 
 

About LoopUp Group plc:

LoopUp (LSE AIM: LOOP) is a cloud communications platform for external and specialist communications. The platform combines internationally-differentiated cloud telephony, business-critical external remote meetings, and premium managed events and webcasts. Our customers benefit from a global, fully-managed service, and an emphasis on security, reliability and simplicity, delivered with deep domain expertise and caring customer support. We are proud to be trusted providers to over 5,000 organisations worldwide, including more than 20 of the world's top-100 law firms. The Group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Denver, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Barbados and Australia, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.

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March 23, 2021 03:00 ET (07:00 GMT)