Toople PLC (LON: TOOP), a provider of bespoke telecom services to UK SMEs, gave today 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 £1.1 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 £3.5m 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 plc 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.”