Toople PLC - telecom services - Completes restructuring of business into four main brands: www.toople.com; www.dmsluk.co.uk; broadbandandphones.co.uk; and www.checkthatcompany.co.uk. The outcome has led to GBP1.6 million in annualised savings, expected to be delivered from Thursday onwards.
Expects decline in headline revenue in short term as company moves focus to margin enhancing customers. Although wider trading environment remains subdued, performance in August has returned to more normal conditions.
In addition, Financial Controller Paul White to become chief financial officer with effect on Thursday, as Kevin Lawrence becomes non-executive director.
Current stock price: 0.099 pence
Year-to-date change: down 34%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Toople Plc (TOOP)