Telecom services provider to small businesses Toople posted another annual loss after an improvement in revenue was overshadowed by higher sales costs and administrative expenses. Pre-tax losses for the year through September amounted to £1.40m, widening from a loss of £1.36 posted on-year, according to an annual report posted on the company's website. Revenue grew by 18% to £1.50m. 'The company has achieved a number of important milestones this year, notably our successful £2.2m placing announced in September 2018 which is expected to deliver cash generation,' chairman Richard Horsman said. 'This over-subscribed fundraise showed continued belief in Toople's management and strategy and will provide important resources to drive business growth.' At 8:02am: (LON:TOOP) Toople Plc share price was +0.02p at 0.31p
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