Toople (LON:TOOP) Toople TOOP.L Toople Last updated 12:25 GBX 0.0975 0.0175 21.88% said that its29 Sep 2020 13:42
Toople (LON:TOOP)
Toople
TOOP.L
Toople
Last updated 12:25
GBX 0.0975
0.0175
21.88%
said that its recently acquired subsidiary, Direct Market Services Limited ("DMSL"), has won a ‘major’ new contract with hospitality and restaurant brand Carluccio's.
Toople completed its “transformational” acquisition of communications firm DMSL in February alongside the belief that it would accelerate positive cash generation and drive profitability.?
This contract win follows news that Carluccio's had entered discussions with administrators after a long period of financial trouble, which was exacerbated by the lockdown.
The Italian dining chain was bought out of administration by Boparan Restaurant Group, the owner of restaurant Giraffe and is now set to re-open in line with the current government guidelines.
The group noted that this contract is an additional win for DMSL who already provide to several businesses across multiple disciplines within the Boparan Restaurant Group.
Shares in Toople were trading 9.09% higher at 0.06p on Tuesday morning.