Toople PLC (TOOP.L) 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.

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: ; ; ; . 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.

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