13th Aug 2024 11:58
Telecom Plus PLC - London-based provider of bundled household utility services - including energy, broadband and mobile telecommunications, and insurance under the Utility Warehouse brand - Chair Charles Wigoder at the annual general meeting says the company is "firmly" on track to double the size of the business to two million customers over the medium term amid continued profit growth and shareholder returns.
Back in June, Telecom Plus celebrated over one million customers, as it reported that pretax profit jumped 18% to GBP100.5 million in the financial year ended March 31 from GBP85.5 million a year prior. Revenue dropped by 18% to GBP2.04 billion from GBP2.48 billion, amid "normalised" energy prices, but gross profit rose 16% to GBP355.2 million from GBP306.2 million as cost of sales fell by 22% to GBP1.68 billion from GBP2.17 billion.
Current stock price: 1,770.42 pence each, up 0.8% on Tuesday morning in London
12-month change: up 9.1%
By Tom Budszus, Alliance News slot editor
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