29th Apr 2025 11:49
(Alliance News) - Telecom Plus PLC on Tuesday said it expects to hike its dividend and report double-digit customer growth and higher profit.
Telecom Plus is a London-based provider of bundled household utility services, including energy, broadband and mobile telecommunications, and insurance under the Utility Warehouse brand.
It expects to report adjusted pretax profit between GBP124 million to GBP128 million for the financial year to the end of March, in line with previous guidance.
Telecom Plus reported adjusted pretax profit of GBP116.9 million in financial 2024.
The company said its total dividend for financial 2025 is expected to increase by 13% to 94.00 pence from 83.00p a year ago.
Telecom Plus reported net customer growth of 15% to 1.2 million from 1.0 million, including 25,000 fixed-line and broadband customers acquired from a subsidiary of the TalkTalk Group Ltd as part of a cross-sell trial partnership.
It said "strong" organic customer growth has continued at 13% to 1.1 million.
"As we continue on our double-digit growth trajectory, the business remains well positioned to generate considerable further shareholder value over the years ahead," said Telecom Plus.
Looking ahead, Chief Executive Officer Stuart Burnett said the company's business model makes it "largely immune" to tariff changes, interest rates, economic growth or business confidence.
"Indeed, such environments have historically been positive for us, with increasing numbers of people seeking additional income sources and ways to reduce their household bills," CEO Burnett said.
"Now into our fourth consecutive year of delivering double digit percentage customer growth, we are making rapid progress towards our medium term target of supplying subscription-style essential household services to 2 million customers and beyond."
Shares in Telecom Plus were up 1.5% to 1,886.00 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Telecom Plus