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Telecom Plus Delivers Record Profits Amid Robust Customer Expansion

Fiona Craig
Market News
24 June 2025 9:25AM

Telecom Plus PLC (LSE:TEP), trading as Utility Warehouse, has reported record profits for the financial year ending March 2025, driven by strong customer growth and operational efficiency. Despite a dip in total revenue due to falling energy prices, the company maintained profitability and increased dividends, showcasing the resilience of its business model.

Customer numbers surged by 15%, with 25,000 new accounts acquired through a deal with TalkTalk and an additional 12.6% growth achieved organically. Looking ahead, Telecom Plus is targeting another 15% increase in its customer base for FY26, aligning with its medium-term goal of reaching two million customers.

Favorable market dynamics and the company’s unique integrated utility offering—covering energy, broadband, mobile, and insurance services—position it for continued success. Its predictable revenue streams and focus on customer service provide a strong foundation for long-term growth and shareholder returns.

Stock and Outlook

With a performance rating of 73, Telecom Plus is seen as a balanced investment opportunity. Technical momentum and positive corporate developments underpin this outlook, though moderate financial challenges, such as reduced cash flow and revenue pressures, temper the forecast. The company’s solid dividend yield remains attractive to income-focused investors.

About Telecom Plus

Telecom Plus operates under the Utility Warehouse brand and is the UK’s only fully integrated multiservice provider. Customers benefit from consolidated billing for essential household services and are supported by a nationwide network of local partners who promote the service through word-of-mouth. The company’s innovative subscription model continues to drive customer loyalty and sustainable profitability.