New Contract Wins and Business Update
06/10/2021 07:00
RNS Number : 1268O
Toople PLC
06 October 2021
For release: 07.00, 6th October 2021
Toople PLC
("Toople" or the "Company" or the "Group")
New Contract Wins and Business Update
Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is delighted to announce that it has experienced robust order intake during September 2021, which has proved to be one of its strongest order intake months in FY21.
The Group has continued to grow its customer base, winning new contracts during September, including five major new deals to provide leased line services. The new contracts are all to UK businesses with a minimum contract length of either three or five years. In each case, Toople is delivering high quality bandwidth and high-speed dedicated internet access to all new customer sites.
The first contract win is in the food supply and services sector, with Toople winning the mandate to supply a large, national UK poultry supplier with both leased line and data backup services. The customer is entering its busiest period in the run up to Christmas. Toople is providing two 1Gbps leased lines, each with failover circuits, as opposed to the 100Mbps service that the customer has had in place. This will help ensure business continuity, as the Company delivers dedicated and uncontended bandwidth and speed to the customer's estate.
Four other companies have also recently signed contracts, also for leased lines, with Toople's subsidiary company DMSL, via their key network partners:
· a Hampshire based internals company specialising in plastering and drylining;
· a Surrey based specialist curtain wall contractor with expertise in the refurbishment of listed and commercial buildings;
· a Surrey based global procurement house for oil and gas end users in Africa and the Middle East; and
· a leading UK stone wholesaler of natural and man-made surfaces for domestic, retail, and commercial projects.
Leased lines deliver dedicated bandwidth and speed to a site, which are always uncontended. These lines ensure internet resilience for customers, and there is no competition with other providers. Bandwidth speed is optimised and the customers' connectivity is futureproofed.
Andy Hollingworth, CEO commented:
"As the economy starts to return, as far as possible, to its pre pandemic state, momentum at Toople continues to build and we have ended our financial year with one of our best months for order intake across all our main product lines. All the Group brands seek to differentiate themselves by offering IT, telecoms and broadband solutions, with robust and reliable packages, that enhance a customers' business and are based on trust and transparency, with no hidden fees within pricing policies. This provides customers with a clear understanding of cost and fixed prices for the duration of their contracts. We keep our customers seamlessly connected with their employees, customers, and other stakeholders, ensure business continuity, and provide peace of mind and strong infrastructure. This allows our customers to focus on building their businesses as the UK gets back to work to overcome the difficult pandemic period."
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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For further information:
| Toople PLC Andy Hollingworth, Chief Executive Officer Paul White, Chief Financial Officer | Tel: 0800 0499 499 |
| Novum Securities Limited David Coffman Colin Rowbury | Tel: 020 7399 9400 |
| Belvedere Communications John West / Llew Angus | Tel: 020 3687 2754 |