Andy Hollingworth of Toople discusses their final results & outlook which shows sales leads and conversion rates increasing

Andy Hollingworth, CEO of Toople #TOOP discusses their final results & outlook which shows revenues increasing by 9%, EBITDA by 19% & gross profit by 17%.

Financial and Operational Highlights

·     Adjusted EBITDA* improvement of 32%, from (£1,305k) to (£881k) driven by lower distribution costs and overheads and virtual elimination of bad debt costs (64% improvement year on year when including impact of bad debt charges)

·      Gross profit increased by 22% to £1.06 million

·      Bad debt almost eliminated to just £55,000, decline from £1.1m in FY20

·      Healthy year on year increase in Gross Margin increased from 25% to 35%

o  Active cost management and control

·      administrative costs down by £360,000 year on year

o  Overall decline in headline revenues by 12% from £3.44m to £3.01m, as a result of:

o  proactive management of non-paying customers and elimination of bad debt problem; and

·      emphasis on DMSL business due to impact of Covid-19 on traditional Toople customer base

·     Number of new contract wins with wider array of SMEs, and expanded out to other organisations such a local city       council

·      Successful placing to raise £774,000 with substantial amount from largest investor

Outlook and Current Trading

·      Improved financial performance and outlook inQ1 FY21 when compared to Q4 FY20:

o  Revenues increased by 9%

o  EBITDA improved by 19%

o  Gross Profit increased by 17%

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: toople.com; dmsluk.co.uk; broadbandandphones.co.uk; 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.  The Group's wholly owned subsidiary  DMS Holding (DMSL) 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 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.