LoopUp heads down as it looks to miss forecasts

AIM-listed communications software firm LoopUp Group (LON:LOOP) saw its share price plunge by 44.68% to 85.74p (as of 12:40 GMT) as rates of churn accelerated due to intense competition in the field. Management said that as a consequence of this, revenues and EBITDA for the full year would be moderately below prior market expectations.

The company expects trading outside of the professional services sector to remain challenging but believes that there is the potential for sustainable growth in its core markets.