PLEASE TELL US A LITTLE ABOUT YOURSELF SO THAT WE CAN DISPLAY THE MOST
APPROPRIATE CONTENT TO YOU:

This site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about cookies used on Trustnet and how you can manage them, see our Privacy and Cookie Policy.

By clicking "I Agree" below, you acknowledge that you accept our Privacy Policy and Terms of Use.

For more information Click here

Login

Register

It's look like you're leaving us

What would you like us to do with the funds you've selected

Show me all my options Forget them Save them
Customise this table
Share   Print      RSS

Toople PLC (TOOP)

Toople PLC

Two New Major Contract Wins and Market Update
RNS Number : 1879G
Toople PLC
16 March 2020
 

Strictly Embargoed until: 16th March 2020

 

Toople PLC

("Toople" or the "Company")

 

Two New Major Contract Wins and Market Update

 

Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that its recent acquisition, DMS Holding ("DMSL"), has signed major contracts with two new large customers.   DMSL provides unified communication services in the UK and has over 15 years' experience of providing broadband connectivity, mobile and fixed voice and cloud services, primarily acting as a BT Premier reseller in the B2B market.  Toople acquired DMSL last month.

 

The two new contract wins for DMSL are with two large blue chip organisations:

· A global humanitarian organisation, and

· A worldwide underwriting business. 

 

Both new customers have signed up for cloud telephony platforms with DMSL.  The humanitarian organisation has signed a three year contract for 95 seats (Revenue Generating Units) and the underwriting business has signed a three year contact for 83 seats and a 100/1g ethernet circuit, also on a three year contract.  Customer deployment is already complete for both contract wins and first revenues generated.  As per DMSL's business model, the contracts are already generating revenues for the Company.

 

The Board is acutely aware of the potential impact of the COVID-19 virus on its business and has in place a contingency plan to cope with any impact that restrictions on its staff and customers may create.  The Company is confident that it can maintain business continuity given that its core offering is a cloud telephony platform which can support all UK, Poland and Durban staff.  The platform enables every member of staff to work remotely with full access to Toople platforms and systems on desktop, tablet and mobile.  Furthermore this solution is also available to all Toople customers, stakeholders and to potential customers and it can be implemented on a same day basis.

 

Andy Hollingworth, CEO of Toople, commented:

 

"The acquisition of DMSL and subsequent integration of the two businesses is progressing very well and ahead of plan.  Operationally, both businesses will be run as one from the same office within the next 30 days.  Further synergies and cost savings are expected when this process is completed and we will give more details of the financial and operational progress at the time of our AGM to be held on 31 March 2020.  We are already seeing the commercial benefits of the acquisition, with two new contract wins already announced. 

 

"The impact of the COVID-19 virus cannot be underestimated by any business, but the Board is confident that our core offering of a cloud telephony platform will ensure business continuity and can act as a solution for other businesses who need speedy solutions to a remote working environment.

 

"Furthermore in his first Budget last week, new Chancellor of the Exchequer, Rishi Sunak, said that £5bn would go towards rolling out gigabit broadband in the most difficult-to-reach 20 per cent of the country. We welcome this move and consider it to be a boost to Toople, and to consumers and businesses who will gain access to higher speed and larger bandwidth connectivity over the next five years.  Toople is well placed to take advantage of these market drivers."

 

-ends-

 

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

Toople PLC

Andy Hollingworth, Chief Executive Officer /

Kevin Lawrence, Chief Financial Officer

 

Tel: 0800 0499 499

Cairn Financial Advisers LLP

Sandy Jamieson/Tony Rawlinson/Ludovico Lazzaretti

 

Tel: 020 7213 0880

Novum Securities Limited

David Coffman

 

Tel: 020 7399 9400

Turner Pope Investments Limited

Andy Thacker / Zoe Alexander

 

Tel: 020 3657 0050

Belvedere Communications

John West / Llew Angus

 

Tel: 020 3687 2754

Notes to editors:

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 small business connectivity solutions, with robust and reliable packages that will enhance our customer's companies. 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 rns@lseg.com or visit www.rns.com.
 
END
 
 
FURKELFFBXLBBBL
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

You are currently using an old browser which will not be supported by Trustnet after 31/07/2016. To ensure you benefit from all features on the site, please update your browser.   Close