REG - Toople PLC - Update on Trading and Date of Interim Results

ToopleAnnouncement

11/04/2019 07:05

RNS Number : 8298V
Toople PLC
11 April 2019
 


 
Embargoed until: 7.00 a.m., 11 April 2019
 
Toople PLC
("Toople" or the "Company")
 
Update on Trading and Date of Interim Results
 
Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, gives the following update on trading ahead of its interim results, which will be announced in early May 2019.
 
The Board is pleased to announce that the interim results are expected to be in line with management expectations.  Turnover and gross profit continue to grow substantially and the Company's cash position remains strong with in excess of £1.1 million as at 31 March 2019.
 
The Board is pleased to report that since the Company's last update on 22 March 2019, Toople has continued to make further significant operational and financial progress.  Following strong trading in January and February, momentum has continued and March 2019 was a record month of small business sign ups contracting directly with Toople.
 
In addition to the new customer wins Toople is pleased to announce that the £3.5m partner contract win announced on 29th August 2018 (which has now been successfully integrated onto the Toople Merlin billing and provisioning platform), continues to perform in line with expectations and the first batches of customers have been transferred over to the Toople billing platform.
 
Andy Hollingworth, CEO at Toople commented:
"Toople has ended the first six months of its financial year, as we began it, trading strongly, with our digital marketing campaign and investment in in-house sales paying off.  We are generating an increasing level of enquiries from potential customers and a growing conversion rate."
  
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse.
 
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For further information please visit www.toople.com or contact:



Toople PLC
Andy Hollingworth, Chief Executive Officer /
Kevin Lawrence, Chief Financial Officer
 


Tel: 0800 0499 499




Cairn Financial Advisers LLP
David Coffman / Richard Nash 
 


Tel: 020 7213 0880




Novum Securities Limited
Colin Rowbury
 


Tel: 020 7399 9400




Turner Pope Investments Limited
Andy Thacker
 


Tel: 020 3621 4120




Belvedere Communications
John West / Llew Angus
 


Tel: 020 3687 2754



About Toople PLC
 
Toople Plc, a company incorporated in the UK provides a range of telecoms services primarily targeted at the UK SME market. Services offered by the Group include business broadband, fibre, EFM and Ethernet data services, business mobile phones, cloud PBX and SIP Trunking and Traditional Services (calls and lines) all of which are delivered and managed through Merlin, the Group's proprietary software platform.
 
The Group is differentiated by its focus on creating business broadband solutions, with robust and reliable packages that will enhance our customers company's. In addition, our vision is based on trust and transparency, with no hidden fees within our pricing policy providing customers with a clear understanding of cost.
 
Toople Plc has a strong and highly experienced Board and management team who are focused on growing the business both organically and by identifying earnings enhancing strategic acquisition opportunities.




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