Toople reveals record month in trading update
Abraham Darwyne
Company News - 2 min read
07:34, 11th April 2019

Toople PLC (TOOP) FOLLOW, a provider of bespoke telecom services to UK SMEs, revealed strong trading in Quarter 1.

Toople reported that in addition to strong trading in January and February, momentum March 2019 was a record month of small business sign ups contracting directly with Toople.

It told investors that turnover and gross profit “continue to grow substantially” and that it had a £1.1 million cash position as of 31 March 2019.

Shares in Toople were trading at 0.365p

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."

The interim results which will be announced in early May 2019 are expected to be in line with management expectations.

The company told investors that its £3.5n partner contract win announced in August 2018 has been successfully integrated into the company’s billing and provisional platform, and that it continues to perform in line with expectations.

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