Toople (LON:TOOP) 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.
The contract will include DMSL providing secure data connections, local internet breakout and telephony to 30 restaurants based all over the UK, this morning’s statement detailed.
"To win the contract to supply data and telephony services to such an iconic restaurant brand, now backed by one of the UK's most respected businessmen, is evidence of how attractive our service offering has become,” said Andy Hollingworth, CEO of Toople.
“More and more businesses are being forced to review their existing telecoms services and many are seeking new solutions which provide enhanced quality at an affordable price,” he said.
He added that this was most likely to be the case for small to medium business amid the difficulties caused by Covid-19, particularly those in food retail, leisure and hospitality who “will increasingly look for this type of reliable fixed price communication and connectivity.”
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