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(Alliance News) - Telecom services firm Toople PLC on Monday announced new contract wins from its newly-bought DMS Holding.
DMS provides communications services to UK businesses. Toople announced the purchase at the end of January.
Toople said it has won "major" contracts with two new unnamed customers, both of whom are blue-chip entities. One is a humanitarian organisation and the other an underwriter. DMS will be providing cloud telephony services.
Elsewhere, Letchworth Garden City-based Toople said it is monitoring Covid-19 and is confident it can continue to operate normally.
"The acquisition of DMS 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," said Chief Executive Andy Hollingworth.
"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. 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 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," Hollingworth continued.
"Furthermore in his first Budget last week, new Chancellor of the Exchequer, Rishi Sunak, said GBP5 billion would go towards rolling out gigabit broadband in the most difficult-to-reach 20% 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."
Toople shares closed 13% lower in London at 0.052 pence each.
By George Collard; georgecollard@alliancenews.com
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