19th Nov 2019 08:57
(Alliance News) - Telecom Plus PLC on Tuesday said it has experienced an improved demand for its products in the first half of its current financial year leading to an increase in earnings.
The multi-utility supplier said pretax profit for the six months to the end of September grew by 9.2% to GBP21.1 million from GBP19.3 million a year prior, as revenue rose by 14% to GBP353.2 million from GBP310.8 million.
Customer numbers for the period increased by 10,267 to 645,306 year-on-year. Total services supplied for the period were up by 92,519 to 2,624,543.
Telecom Plus lifted its interim payout by 8% to 27 pence a share from 25p it paid a year ago. The company maintained its dividend guidance for the full year of 57p per share, up 9.6% from 52p paid for the year before.
"Growth during the first half of the financial year saw a continuation of the encouraging performance we achieved during the corresponding period last year, with similar increases in both customer and service numbers," said Chief Executive Andrew Lindsay.
"We look forward to building on the current strong momentum, and delivering full-year adjusted profits of GBP60 million to GBP65 million in line with the guidance previously provided," added Lindsay.
The stock was trading 3.1% higher in London on Tuesday at 1,319.88p a share.
By Evelina Grecenko; [email protected]
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