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LoopUp Group PLC - London-based software provider for remote meetings - posts revenue of £16.5 million for 2022, down 15% from £19.5 million a year earlier. Says it has seen a material improvement in the second half of the year with £9.9 million. Pretax loss narrows to £12.3 million from £31.1 million, as it books a currency translation gain of £209,000 compared to a loss of £340,000 a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation are down to £867,000 from £1.2 million. Looking ahead, says it is confident to meet financial 2023 market expectations. Revenue amounts to about £6.5 million for the first quarter of 2023. Co Chief Executive Officers Steve Flavell and Michael Hughes say: ‘We are delighted to have finished last year and entered this year strongly on two fronts. First, we have seen a material jump in revenue run-rate and cash generation delivered from the PGi Connect agreement. Second, we have achieved strong commercial traction in our primary Cloud Telephony growth business.’ Current stock price: 2.50 pence each, down 5.7% on Wednesday morning in London 12-month change: down 62% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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