Toople PLC (LON: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to give the following update which was released on the 7 November.
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.”