LONDON (Alliance News) - Shares in Toople PLC jumped a quarter Thursday as the telecommunications provider signed two contracts that are expected to have a "material" effect on monthly revenues.
Toople was trading up 25% at 0.85 pence each.
The first contract is with an unnamed "leading energy business" that supplies dual fuel. The energy company "is now expanding" to offer telecoms and broadband and "has chosen Toople as its provider of choice".
The telecoms company will provide "triple play services" to the energy company's clients, which include "businesses such as restaurants, high street shops and bakers".
Toople has also signed a contract with an unnamed technology services company, with "experience in server support, computer support, cloud system and disaster recovery planning".
Due to "increased demand", the tech services company, has added "complete telecommunications solutions to its product offering" - which will be delivered by Toople.
Chief Executive Officer Andy Hollingworth said: "These are great and financially meaningful wholesale contract wins for Toople. It shows that we are beginning to gain real traction among our targeted channel partners and expanding our sector verticals.
"Accelerating growth of hosted telephony services is a key focus of the company due to its attractive margins and the increasingly competitive nature of the SME broadband market. We firmly believe that one of our key competitive strengths is our Merlin platform, which allows scalability for the business through automation and provides a strong customer relationship management interface. This was a key deciding factor in winning both contracts."
Toople Plc (TOOP)