LoopUp has issued a trading update, highlighting two specific challenges which impact near-term revenues. Firstly, there has been an across-the-board reduction in activity levels among clients, driven (in the Board’s view) by depressed macro activity. Secondly, levels of new business have been impacted by the diversion of senior staff onto training roles and away from business development. Both issues are disappointing, and they combine to a material reduction in near-term EBITDA (c20%), but both should also be manageable and neither diminishes the attractiveness of the LoopUp product.