Update on Trading: Record Month for October 2018

RNS Number : 5404G

Toople PLC

07 November 2018

 

Strictly embargoed until: 07.00, 7 November 2018

Toople PLC

("Toople" or the "Company")

Update on Trading: Record Month for October 2018

Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is very pleased to give the following update.

The Company is pleased to report that during October it received the highest number of orders by contract value in one month in its history, making this a record-breaking period for the business.  The contract value of signed customers for October 2018 will equate to revenue in excess of £250,000 for Toople over a 24 month period. 

In addition, October 2018 saw the largest monthly number of directly contracted small businesses joining Toople which represented a 40% increase compared to prior months.

The Company believes that the current positive trading and sales outlook is further evidence of the successful implementation of its in-house sales strategy adopted earlier in the year.

The cost of acquisition per revenue generating unit, a key metric for Toople, has also reduced materially in October 2018, confirming that Toople's digital marketing continues to become more cost effective as the business scales.

Andy Hollingworth, CEO at Toople commented:

"Toople is clearly offering a product that the SME market wants. We continue to grow through adding new customers from a variety of different channels, as well as by selling add-ins to existing customers and as a result our order book keeps increasing in value.

"We believe that this is a direct result of sound management and effective implementation of our new operating strategy.  We look forward to updating shareholders in more detail at the time of our final results, which we intend to announce before the end of December 2018."

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	Tel: [phone]
Cairn Financial Advisers LLP David Coffman / Richard Nash	Tel: [phone]
Novum Securities Limited Colin Rowbury	Tel: [phone]
Turner Pope Investments Limited Andy Thacker	Tel: [phone]
Belvedere Communications John West / Llew Angus	Tel: [phone]

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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