LONDON (ShareCast) - (Sharecast News) - Shares in bespoke business telecoms provider Toople were in the red on Thursday, after it updated the market on its trading ahead of its interim results
The London-listed firm said those interim results were expected to be in line with management expectations, with turnover and gross profit continuing to grow "substantially".

It said its cash position remained "strong", with more than £1.1m as at 31 March.

The board also reported that since its last update on 22 March, the company had continued to make further "significant" operational and financial progress.

Following "strong" trading in January and February, momentum had continued, and March was said to be a record month of small business sign ups contracting directly with Toople.

In addition to the new customer wins, Toople said that the £3.5m partner contract win announced on 29 August, which had now been successfully integrated onto the Toople Merlin billing and provisioning platform, continued to perform in line with expectations.

The first batches of customers had been transferred over to the Toople billing platform.

"Toople has ended the first six months of its financial year, as we began it, trading strongly, with our digital marketing campaign and investment in in-house sales paying off," said chief executive officer Andy Hollingworth.

"We are generating an increasing level of enquiries from potential customers and a growing conversion rate."

Toople said its interim results would be announced in early May.

As at 1139 BST, shares in the company were down 12.16% at 0.32p.

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