Telecom Plus (TEP)

Sector:

Telecom Operators

Index:

FTSE 250

1,628.00p
   
  • Change Today:
      22.00p
  • 52 Week High: 1,976.00
  • 52 Week Low: 1,362.00
  • Currency: UK Pounds
  • Shares Issued: 78.88m
  • Volume: 71,237
  • Market Cap: £1,284.23m
  • RiskGrade: 100

Telecom Plus hikes expectations after bumper first half

By Josh White

Date: Tuesday 22 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Telecom Plus reported a 51.5% improvement in first-half revenue on Tuesday,to £562.4m, as its adjusted profit before tax increased 22.5% to £32.1m and it upgraded its full-year forecast.
The FTSE 250 telecoms operator, which trades under the Utility Warehouse brand, said its statutory profit before tax grew 46.2% year-on-year in the six months ended 30 September, to £29.1m.

It hiked its interim dividend to 34p per share, up from the 27p distribution it made at the same time last year, after a period of record growth where its annualised customer growth rate reached almost 24%.

"As the pressures on household budgets mount, we continue to offer UK families what they want - the lowest priced energy on the market, savings on their mobile, broadband and insurance bills, cashback on their daily spend, and additional earnings for recommending UW to their friends and families," said co-chief executive officer Andrew Lindsay.

"The business is growing faster than ever, at an annualised rate of almost 24%.

"With inflationary pressures showing no signs of easing, we expect demand for what we offer to remain high, supporting our progress towards our target of welcoming an additional one million customers in the next four-to-five years."

Looking ahead, Telecom Plus said its net customer growth remained at record levels, while the recruitment of 'partners' into its commission-based sales scheme was also on the up in response to the cost-of-living crisis.

The company upgraded its previous guidance, saying its now expected full-year adjusted profit before tax for the 2023 financial period of at least £95m, leading to a full-year dividend of at least 80p per share, up from 57p.

It said it remained on track to deliver one million new customers in the next four to five years.

"UW is now the only meaningful energy switching option in the UK, with the rest of the market offering customers little to no difference in price or service," added co-CEO Stuart Burnett.

"Our unique multi-service proposition enables us to provide households with energy savings of up to £125 a year below the new Energy Price Guarantee, sustainably and profitably, underpinning our long-term strong competitive position."

Burnett said the energy savings were expected to put more than £30m "back into the pockets" of UK households in the current financial year.

"With financial pressures on families due to increase over the next few years, we expect demand for the savings and earnings that we offer to continue to grow."

At 0809 GMT, shares in Telecom Plus were up 2.69% at 2,397.75p.

Reporting by Josh White for Sharecast.com.

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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 1,628.00p
Change Today 22.00p
% Change 1.37 %
52 Week High 1,976.00
52 Week Low 1,362.00
Volume 71,237
Shares Issued 78.88m
Market Cap £1,284.23m
RiskGrade 100

Telecom Plus Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.53% below the market average75.53% below the market average75.53% below the market average75.53% below the market average75.53% 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
35.54% above the market average35.54% above the market average35.54% above the market average35.54% above the market average35.54% 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
41.99% above the market average41.99% above the market average41.99% above the market average41.99% above the market average41.99% 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
83.13% above the market average83.13% above the market average83.13% above the market average83.13% above the market average83.13% 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
16:35 37,608 @ 1,628.00p
16:35 143 @ 1,628.00p
16:35 214 @ 1,628.00p
16:35 153 @ 1,628.00p
16:35 47 @ 1,628.00p

Telecom Plus Key Personnel

CFO Nick Schoenfeld

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