Telecom Plus (TEP)

Sector:

Telecom Operators

Index:

FTSE 250

1,596.00p
   
  • Change Today:
    -10.00p
  • 52 Week High: 1,976.00
  • 52 Week Low: 1,362.00
  • Currency: UK Pounds
  • Shares Issued: 78.88m
  • Volume: 7,150
  • Market Cap: £1,258.89m
  • RiskGrade: 100

Telecom Plus first-half revenues rise but profit drops

By Michele Maatouk

Date: Tuesday 23 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Telecom Plus, which trades as Utility Warehouse, reported a drop in half-year profit on Tuesday but a 6% jump in revenue thanks in part to a colder spring relative to the prior year.
In the six months to 30 September, revenue rose to £371.3m from £349.4m in the same period a year ago, while adjusted pre-tax profit dipped to £26.2m from £27.7m following a one-off settlement with energy regulator Ofgem.

Statutory pre-tax profit fell to £19.9m from £21.5m and the company maintained its interim dividend at 27p a share.

Telecom Plus hailed a "resilient" performance across all parts of the business throughout the pandemic, with customer numbers up by 3,289 to 660,700.

"Against the backdrop of widespread apathy towards switching in the aftermath of the pandemic, the business delivered a resilient performance during the first half, with the recent energy crisis acting as a catalyst to end an unsustainable seven-year price war," the company said.

It added that with more than 20 suppliers having subsequently gone bust, it saw an immediate pick-up in the number of customers joining Utility Warehouse, with a net increase of over 15,000 new customers in October alone.

Co-chief executive Andrew Lindsay said: "These results demonstrate our resilience as a supplier of essential household services following the disruption caused by the pandemic.

"The recent energy crisis has brought a seven-year destructive price war to an abrupt end, and the subsequent spate of energy supplier failures has demonstrated the inherent flaws in the regulator's policy of 'competition at all costs'. Consumers now face a cost running into billions of pounds to tidy up the mess, so we welcome Ofgem's commitment to prevent this situation from happening again, and to create a retail market that allows sustainable competition between suppliers, whilst enabling us to meet the challenges of the transition to net zero together."



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Telecom Plus Market Data

Currency UK Pounds
Share Price 1,596.00p
Change Today -10.00p
% Change -0.62 %
52 Week High 1,976.00
52 Week Low 1,362.00
Volume 7,150
Shares Issued 78.88m
Market Cap £1,258.89m
RiskGrade 100

Telecom Plus Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.73% below the market average75.73% below the market average75.73% below the market average75.73% below the market average75.73% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Price Trend
25.14% above the market average25.14% above the market average25.14% above the market average25.14% above the market average25.14% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Income
43.43% above the market average43.43% above the market average43.43% above the market average43.43% above the market average43.43% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
82.70% above the market average82.70% above the market average82.70% above the market average82.70% above the market average82.70% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Telecom Plus Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Nov-23 20-Jul-23
Paid 15-Dec-23 11-Aug-23
Amount 36.00p 46.00p

Trades for 28-Mar-2024

Time Volume / Share Price
13:23 72 @ 1,596.00p
13:23 24 @ 1,596.00p
13:23 25 @ 1,596.00p
13:23 46 @ 1,598.00p
13:23 75 @ 1,596.00p

Telecom Plus Key Personnel

CFO Nick Schoenfeld

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