Telecom Plus Half-Year Revenue Up 4%

Telecom Plus

Telecom Plus PLC (trading as the Utility Warehouse)  announced its half-year results for the six months ended 30 September 2018.

Revenue was £311 million, up 4 percent from £299 million in 2017. The number of Members and services for the period increased by 10,479 and 86,372, compared to 5,265 and 36,348 in 2017 respectively. According to the company, the majority of this growth achieved during the second quarter.

“Growth during the first half of the financial year was encouraging at double the level we achieved during the corresponding period last year,” said Chief Executive Andrew Lindsay. “Revenues and profits are at record levels, and our balance sheet remains robust. In contrast to the majority of other energy suppliers, this puts us in a strong position now that the dynamics of the energy market have started to change in our favor. We are on track to deliver growth in customer and service numbers that is materially up year on year.”

Telecom Plus is the UK’s only fully integrated provider of a wide range of competitively priced utility services spanning both the communications and energy markets.