- Telecom services supplier to small businesses Toople booked a first-half loss, as rising revenue was more than offset by higher expenses.

Pre-tax losses for the six months through March amounted to £844k, compared to losses of £714k on year.

Revenue rose 57% to £1.1m.

'This has been an excellent six months for the company,' chief executive Andy Hollingworth said.

'We continue to execute on our growth strategy and are performing well against all our key operational and financial benchmarks.'

'Our cash position as at 31 March 2019 stood at £1.15m and the board believes that the current cash position is sufficient to allow the business to continue to pursue the marketing strategy outlined at the time of our placing.'

'The investments we have made in people and digital marketing are paying off.'

'Current trading is strong with another record month in April and a healthy new business pipeline, with over 900 orders in the month from over 600 small businesses placing orders with Toople for the first time.'

'We believe we can still grow our customer acquisition rate with the same level of marketing spend and will be able to drive further efficiencies with our marketing and sales performance.'

'We look forwards with confidence.'

At 9:32am: [LON:TOOP] Toople Plc share price was -0.06p at 0.49p

Story provided by