Toople PLC Trading Update (3487D)
09 October 2018 - 5:00PM
UK Regulatory
TIDMTOOP
RNS Number : 3487D
Toople PLC
09 October 2018
For release at: 07.00 am, 9 October 2018
Toople PLC
("Toople" or the "Company")
Trading Update for the year ended 30 September 2018
Toople PLC (LSE: TOOP), a provider of bespoke telecom services
to UK SMEs, today gives the following update on trading.
The Board is pleased to report that since the Company's last
update on the 25 September, Toople has made further significant
operational and financial progress. The Company is also pleased to
announce that the first week of its new financial year has started
ahead of management's expectations.
Toople ended its financial year trading strongly, with over 600
small businesses concluding contracts directly with the Company
during August and September 2018. During these two months, around
20% of orders came from existing customers, demonstrating Toople's
ability to grow both by adding new customers as well as selling
add-ins to its existing customer base. The wholesale side of the
business also continued to grow its number of partners with nine
new agreements signed prior to the year end.
The Company has continued this momentum into October 2018 with a
new record of 115 businesses signing up with Toople in the first
week of October alone.
Toople's digital marketing campaign, one of the central tenants
of its growth strategy, is generating an increasing level of
enquiries from potential customers and a growing conversion rate.
The marketing campaign has been structured to generate the best
possible returns on capital employed and this increased level of
enquiries together with efficient operating procedures have
resulted in a lowering of the cost of new customer acquisition.
Importantly, this campaign is generating new incremental business
for the Company.
Andy Hollingworth, CEO at Toople commented:
"Toople continues to experience organic growth and the decision
to implement an in-house sales strategy in place of the outsourced
model is clearing starting to pay off in terms of generating leads,
reducing cost per customer acquisition and increasing conversion
rates."
"During August and September, we announced a number of new
contract and customer wins as well as a successful placing that we
completed amid tough market conditions to provide us with a stable
financial platform to exploit the new business pipeline we are
creating and to see the Company through to positive cash flow
generation. Our ability to continue to sell products to existing
customers is underpinned by Toople's excellent trust pilot score
which is currently at 9.1 out of 10."
"The Board is very pleased with the progress that the Company is
making as we continue to cement our position as the telecom service
partner of choice for SMEs in the United Kingdom and we look
forward to providing further updates to shareholders."
This announcement contains inside information for the purposes
of Article 7 of the Regulation (EU) No 596/2014 on market
abuse.
-ends-
For further information please visit www.toople.com or
contact:
Toople PLC Tel: 0800 0499 499
Andy Hollingworth, Chief Executive
Officer
Cairn Financial Advisers LLP Tel: 020 7213 0880
David Coffman / Richard Nash
Novum Securities Limited Tel: 020 7399 9400
Colin Rowbury
Turner Pope Investments Limited Tel: 020 3621 4120
Andy Thacker
Belvedere Communications Tel: 074 070 23147
John West / Llew Angus
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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