TIDMTOOP
RNS Number : 7107B
Toople PLC
12 October 2020
Strictly embargoed for 07.00: 12 October 2020
Toople PLC
("Toople" or the "Company" or the "Group")
New Contract Wins
Toople PLC (LSE: TOOP), a provider of bespoke telecom services
to UK SMEs, is delighted to announce two new contract wins, both of
which are providing new IP cloud based services driven by the
roll-out of next generation telecoms infrastructure in the UK.
Toople has been chosen by a leading global investment management
and advisory business based in central London, and offices around
the world to facilitate a move away from their traditional
telephony infrastructure to DMSL's IP cloud based next generation
platform. The contract, which is for three years, will provide
services for their employees to have more freedom and accessibility
from any location. The platform supports access via an app to
desktop, laptop, tablet, and mobile phone. Additionally, the
business has contracted to a dedicated high speed internet
connection to its London headquarters, also for a three-year
period.
Separately, DMSL has won the contract to provide services to a
large property management, and sales and letting business based in
the East of England. The real estate agency has multiple offices
across the region and has signed a five year contract through DMSL
for the delivery of IP cloud based telephony in all their
locations. These two new contracts are further evidence of
continued growth in DMSL's core business, and are expected to
accelerate the anticipated timeline to the Group achieving positive
cash generation and profitability.
DMSL, which acts as a BT Premier reseller, continues to work
with network providers including EE, O2 and TalkTalk Business, and
has multiple revenue streams delivering upfront cash and recurring
revenue.
Andy Hollingworth, CEO of Toople, commented:
"Openreach is building full-fibre to the premises (FTTP) to more
than 4.5 million premises by the end of March 2021 and more than 20
million in the late 2020's. This, and the impact of the
Coronavirus, is driving the need for better remote connectivity and
unified communications solutions for Toople and its Group
companies. As full-fibre availability in the UK grows
exponentially, our suite of services support the transition to a
full-fibre future and as the availability of fibre increases, so
too will the number of new and expanded contracts for Toople.
"Not only is Toople perfectly placed to take advantage of the
macro drivers in telecoms, but it is also capable of providing
small and medium sized businesses with simple, fixed fee contracts,
allowing their employees and staff to work from home or their
offices as the world settles into a new reality where employees can
work from anywhere but must remain seamlessly connected to their
colleagues and clients. In light of societal changes to working
practices, and technical upgrades to the UK's communications
infrastructure, the long term outlook for Toople is bright."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information :
Toople PLC Tel: 0800 0499 499
Andy Hollingworth, Chief Executive
Officer
Paul White, Chief Financial
Officer
Novum Securities Limited Tel: 020 7399 9400
David Coffman
Belvedere Communications Tel: 020 3687 2756
John West / Llew Angus
About Toople PLC
Toople PLC is incorporated in the UK and listed on the main
market of the London Stock Exchange.
The business currently trades under four main brands:
www.toople.com ; www.dmsluk.co.uk ; broadbandandphones.co.uk ;
www.checkthatcompany.co.uk .
Toople.com provides bespoke telecoms services for its fast
growing target market of UK SMEs with between one and 500
employees. 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 via the Group's
proprietary software platform.
In February 2020, Toople completed the acquisition of DMS
Holding (DMSL) . DMSL commenced trading in 2002 and provides
unified communication services in the UK, ranging from a single
phone line to a multi-site unified comms VoIP platform, delivered
via a network of telecoms and IT carriers and content providers
across the UK including BT Business, BT Global Services, Gamma, EE,
Vonage, TalkTalk Business and O2.
DMSL acts as a BT Premier re-seller for broadband connectivity,
mobile and fixed voice and cloud services and is responsible for
over 250,000 BT customers and over 400,000 Revenue Generating
Units.
The acquisition of DMSL was transformational for Toople, as it
also expanded the Group's reach into the UK residential market,
which is experiencing a period of rapid change, as operational
automation further develops and more people choose to (or are
forced to) work from home.
The Company also owns a telecoms price comparison website and a
service offering company credit reference checking and reports.
These complement the Group's IT and telecoms services.
All the Group brands seek to differentiate themselves by
offering IT, telecoms and broadband solutions, with robust and
reliable packages, that enhance a customers' business and are based
on trust and transparency, with no hidden fees within pricing
policies. This provides customers with a clear understanding of
cost and fixed prices for the duration of their contracts.
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END
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