4th Apr 2014 07:06
LONDON (Alliance News) - Telecom Plus PLC Friday said it is confident of reporting full-year profits in line with consensus market expectations, boosted by a strong fourth-quarter.
In a statement, Telecom Plus said its profitability remains in line with market expectations notwithstanding reduced energy consumption as a result of what it called "an exceptionally warm winter."
The owner of the Utility Warehouse brand said the proportion of new members taking all five of its core services - gas, electricity, landline, broadband and mobile - has increased to over 20%, with the proportion taking mobile service now more than 35%, since the launch of its new bundled tariff structure in November 2013.
Meanwhile, the company said it has seen a surge in the number of new distributors in the last ten days.
Telecom Plus also reiterated its intention to pay a 19 pence final dividend, which would increase its full-year dividend by 4 pence to 35 pence.
"The recent significant increase in the number of distributors joining the business, combined with the new tools we have just introduced, have the potential to materially accelerate our current growth rate and substantially increase our market share over the next few years," Andrew Lindsay, chief executive, said in a statement.
"Our focus going forward is to secure our position as the nation's most trusted utility supplier, supporting our distributors as they continue to spread the word about the convenience, savings and exceptional customer service we provide to ever increasing numbers of households across the length and breadth of the country," Lindsay added.
Telecom Plus said it expects to report results for the year ending March 31 on May 21.
Telecom Plus shares were up 0.3% at 1,775.00 pence at the open Friday.
By Samuel Agini; [email protected]; @samuelagini
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