Toople PLC Update on Trading and Date of Interim Results (8298V)

TIDMTOOP

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 GBP1.1 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 GBP3.5m 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                            Tel: [phone] 
  Andy Hollingworth, Chief Executive 
  Officer / 
  Kevin Lawrence, Chief Financial 
  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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April 11, 2019 02:00 ET (06:00 GMT)