RE: Rns out18 Dec 2018 07:44
Part 1
Final results for the year ended 30 Sept 2018
Tue, 18th Dec 2018 07:00
RNS Number : 7463K
Toople PLC
18 December 2018
Strictly embargoed until: 07.00, 18 December 2018
Toople PLC
("Toople" or the "Company")
Final results for the year ended 30 September 2018
Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, today announces is final audited results for the year ended 30 September 2018.
Commenting on the results Richard Horsman Non-Executive Chairman said:
"The Company has achieved a number of important milestones this year, notably our successful £2.2 million placing announced in September 2018 which is expected to deliver cash generation. This over-subscribed fundraise showed continued belief in Toople's management and strategy and will provide important resources to drive business growth."
Financial Highlights:
Revenue, showing significant growth of our business year on year
· Group revenue grew by 17.5% to £1,505,000
· Broadband revenue grew by 112%
· Hosted revenue grew by 345%
· Mobile revenue grew by 221%
Other financial metrics also showing growth
· Gross profit increased in GBP terms by 28% to £203,624 (FY17: £159,305)
· Overall gross margin improved by 1.1 percentage points to 13.5%
· Retail margin up from 16.5% to 21.7%, driven by improved gross margins on Broadband and Mobile
· Increase in costs as sales team brought in-house, driving significant increase in lead conversion and sales, resulting in lower cost of acquisition per customer
Operational Highlights:
· Significantly strengthened management team, focussed on driving growth, innovation and sales
· Successful and oversubscribed fund raising, showing support for business's management and strategy
· Management expects recent placing to deliver cash generation
· Number of material new contract wins and partnership agreements validating management decision to bring sales function in-house
· Strong current trading including record month in October 2018 followed by another record month in November and a healthy new business pipeline