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By Elena Vardon
LoopUp Group on Friday said its operating loss figure for 2022 is higher than its preliminary one following an adjustment from a non-cash one-off charge that was raised as part of the audit process.
The U.K. communications-services provider said its operating loss for the year ended Dec. 31 is increased by around 13.6 million pounds ($17.1 million) due to an exceptional impairment charge linked to some intangible assets from its acquisition of MeetingZone in 2018.
The group said that along with other minor adjustments, its operating loss for the year was GBP25.1 million, compared with the previously reported figure of GBP11.6 million. For 2021, operating loss was GBP30.6 million and included a GBP19.6 million non-cash exceptional impairment charge.
It added that it extended its debt facilities with Bank of Ireland, which will now mature on Sept. 30 2024.
At 0814 GMT, shares were down 0.18 pence, or 8.5%, at 1.88 pence.
Write to Elena Vardon at [email protected]
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