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Toople Plc

Toople Plc Revenue up 38% as brand builds

Andy Hollingworth, CEO, Toople Plc LON:TOOP, said, “Since our Standard Listing on the Official List in May 2016, our focus has been to validate the Toople concept and opportunity, and asses the market’s willingness to accept a new brand. The Company remains at an early stage and performance thus far has been encouraging, with consistently increasing customer numbers, new product launches and high customer satisfaction scores.

The foundations are in place for us to continue on this positive trajectory, with a scalable platform and experienced Management team. As such, the Company is on course towards its strategic ambition of becoming the UK’s leading provider of bespoke telecom services to UK SMEs.”

Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, has told DirectorsTalk its final results for the year ended 30 September 2016.

Highlights:

   -      Launch of the Toople brand in May 2016

– Strong growth in the second half of the year, driven by consolidation of the wholesale business and acquisition of the Company’s first SME customers

   -      Revenue for the year to 30 September increased to GBP957,749 (2015 GBP36,799) 
   -      Revenue grew to GBP555,140 in H2; representing a 38% increase on H1 
   -      Gross margin was GBP77,641 (8.1%) 
   -      Loss before Taxation of GBP1,733,578

– Cash at 30 September 2016 of GBP743,824, following one-off costs of listing, repayment of debt, launch of the brand and expansion of the Group’s services

Post period highlights:

– Orders across channels steadily increasing, reaching over 200 new orders on average per month since market entry up to 31(st) December2016

   -      Finessed digital marketing strategy resulting in consistent new customer growth 
   -      Expect to achieve a 30% margin over the contract life of a typical customer 
   -      Breadth of portfolio driving additional "bolt-on" product sales

– Increased 4G capabilities with the addition of O2 and Vodafone to the offered networks, complementing its existing EE services

– The launch of Toople’s new broad cloud business telephony service is expected to be a key driver for new customer acquisition with attractive margins

   -      The Group is now able to offer a unified communications package

– Accredited by more than 30 of the UKs biggest B2B cashback and comparison sites, with the most notable listings on; uSwitch, Quidco, Topcashback, and Broadband Genie

– Achieved an average customer satisfaction score of 8.5 out of 10 via Trustpilot with its “Right first time” customer service strategy

 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.