Toople PLC Annual Financial Report (0635C)

TIDMTOOP

RNS Number : 0635C

Toople PLC

17 January 2018

17 January 2018

Toople Plc

("Toople" or the "Company" or the "Group")

Final Results

Publication of Annual Report

Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce its final results for the year ended 30 September 2017.

Highlights:

-- Revenue for the year to 30 September 2017 increased by 34% to GBP1,281,172 (2016: GBP957,749)

   --     Operating losses decreased by 23% to GBP1,313,987 (2016: GBP1,714,559) 
   --     Gross margins increased by 4.3% 
   --     Customer order number grew by 300% 

o Average conversion rate of 43% against all leads generated

   --     Net growth month-on-month in customer base 

o All with contracted annualised recurring revenue

   --     Industry leading customer experience scores 

o Trustpilot(R) reviews continue to demonstrate Toople outperforming the market

Post period highlights:

-- The Company has transitioned from a third part sales agency to its own in-house, dedicated sales office

-- Toople continues to achieve an average customer satisfaction score in excess of 8 out of 10 via Trustpilot(R)

-- Adrian Andrews was appointed as Chief Financial Officer, taking over from Geoff Wilson (Interim CFO)

Andy Hollingworth, CEO, Toople Plc, said, "The Company's performance thus far has been very positive, with consistently increasing customer numbers, new product launches and high customer satisfaction scores. These results show that we have made significant progress towards realising our strategic ambition of becoming the UK's leading provider of bespoke telecom services to UK SMEs.

Performance during the year has been encouraging. The Directors are pleased to see the Toople brand establishing itself, the customer base growing and the number of Revenue Generating Units per customer increasing. The Toople brand and its associated values is now successfully launched in the market and the Board believes this will generate continued growth in 2018.

My thanks go to customers, shareholders and, most important, the team here at Toople for what has been achieved so far. The Board looks forward to 2018 as an exciting period of further success."

A copy of the Annual Report will be posted on the Company's website: www.toople.com.

An electronic version has been submitted to the National Storage Mechanism which will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.

Notice of the Company's Annual General Meeting will be sent to shareholders in due course.

- ENDS -

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the Group is Adrian Andrews, Chief Financial Officer

For further information:

 
 Toople PLC 
 Andy Hollingworth,          0800 0499 
  Chief Executive Officer     499 
 Adrian Andrews, Chief 
  Financial Officer 
 
 Hybridan LLP 
 Claire Louise Noyce         020 3764 2341 
 Darshan Patel               020 3764 2345 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 17, 2018 02:00 ET (07:00 GMT)