Toople PLC Update on Trading: Record Month for October 2018 (5404G)

TIDMTOOP

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 GBP250,000 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.

-ends-

For further information please visit www.toople.com or contact:

 
 Toople PLC                            Tel: [phone] 
  Andy Hollingworth, Chief Executive 
  Officer 
 Cairn Financial Advisers LLP          Tel: [phone] 
  David Coffman / Richard Nash 
 Novum Securities Limited              Tel: [phone] 
  Colin Rowbury 
 Turner Pope Investments Limited       Tel: [phone] 
  Andy Thacker 
 Belvedere Communications              Tel: [phone] 
  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 [e-mail] or visit www.rns.com.

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November 07, 2018 02:00 ET (07:00 GMT)