LoopUp sees FY earnings and revenue growth

Cloud communications provider LoopUp Group said on Monday that both revenues and underlying earnings were expected to have grown year-on-year.

LoopUp confirmed that it expects revenue for the year ended 31 December 2020 to be approximately £50.2m and underlying earnings were pegged to be approximately £15.3m, up from £42.5m and £6.4m, respectively.

The AIM-listed group, which vowed to provide more details on recent trading when it announces its preliminary results on 23 March, also highlighted that it had ended the year with gross cash of £12.1m, up from £3.0m at the same time a year earlier, and had reduced net debt to £700,000 from £11.5m.

As of 1000 GMT, LoopUp shares were flat at 78.0p.