LoopUp (LOOP)

LoopUp LOOP Logo

The premium remote meetings company.

23-Jan-2018 – 392p – £164.9m – PER 58.5

Trading Update For The 12 Months To End December 2017 – Looks good, Revenue up 36% to £17.5m in FY2017 (FY2016: £12.8m), ahead of market expectations in spite of the currency headwind in the second half which saw the pound/dollar rate rise to $1.32 versus $1.23 at the start of the year. Profit margin up 2.2% and EBITDA up 161% to £3.5m. Net Cash of £2.9m.

Quite like this growth story but on a PER of 58.5 I just can’t bring myself to pay up here.

6-Mar-2018 – 339.99p – £143.5m – PER 50.7

Preliminary Results For The 12 Months To End December 2017 – Revenue up to £17.5m (up 33.5% CC) ahead of market expectations. Customer spread improved. EBITDA up 161%, Operating Profit £0.7m, Diluted EPS up 722% to 4.4p (0.5p last time) and now Debt Free with Cash of £2.9m. Outlook is confident.

Almost tempted to pay up here, just seems to be going places this company. Can’t remember the last time I paid up on a PER of 50+ though. If I don’t get involved soon I will leave it on my Watchlist, 280p.

14-Aug-2018 – 410p – £225.0m – PER 37.3

Trading Update For The 6 Months To End June 2018 – Revenue up 39% (22% CC), Gross Margins up 40bps to 77.2% and “confident in our ability to deliver strong future growth and meet market expectations”.

Looking more attractive at this valuation but not quite attractive enough. I am going to take this off my Watchlist for now (was at 280p) and go Neutral whilst keeping an eager eye out for updates.

26-Sep-2018 – 425p – £233.5m – PER 35.8

Interim Results For The 6 Months To End June 2018 – FY to be in-line.

I am always thinking this is fairly priced and sometimes I am right and sometimes I am wrong. For now I will remain Neutral but will look for Broker notes today and do some more research.

12-Feb-2019 – 325p – £179m – PER 23.7

Trading Update For The 12 Months To End December 2018 – Revenue in-line and profitability comfortably ahead, of expectations. Products integrated now, expanding people and locations.

I will be looking for updated Broker notes here today – I quite like this update.

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