REG - Telecom Plus PLC - Telecom Plus Passes One Million Customer Milestone

Telecom PlusAnnouncement

06/03/2024 07:00

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RNS Number : 7006F  Telecom Plus PLC  06 March 2024

6 March 2024

Telecom Plus PLC

Telecom Plus Passes One Million Customer Milestone

We are pleased to announce that Telecom Plus PLC (trading as Utility Warehouse
or UW), which supplies a wide range of utility services focused on domestic
customers, has passed the one million customer milestone.

Over the last 25 years, the business has demonstrated its ability to grow its
customer base organically in all market conditions, due to the unique
combination of its multiservice customer offering and word of mouth route to
market.

With the return of rational and healthy competition to the energy market, we
are confident in our ability to maintain market-leading tariffs across all our
services as we set our sights on doubling the size of the business to 2
million customers.

We continue to trade strongly in line with market expectations for the full
year.

Commenting on today's announcement, Stuart Burnett, Co-CEO said:

"We are now helping more than one million households to stop wasting time and
money on their household bills, demonstrating the ongoing strength of our
unique business model. Our sights are now firmly set on doubling the business
from 1 million to 2 million customers through a combination of the
market-leading savings customers receive when they take multiple services from
us, and the meaningful additional income partners earn from recommending these
savings to their friends and family."

Consensus adjusted Profit Before Tax for the year ending 31 March 2024 is
£113.2 million, with a range of £110.1 million to £116.3 million.

For more information, please contact:

 Telecom Plus
 Stuart Burnett, Co-CEO      0208 955 5000
 Nick Schoenfeld, CFO

 For Investor Relations
 Julian Wais                 07720 999764
                             jwais@uw.co.uk
 For Media Relations
 Lansons Communications LLP
 Ed Hooper                   07783 387713
                             utilitywarehouse@lansons.com

 

LEI code: 549300QGHDX5UKE58G86

About Telecom Plus PLC ("Telecom Plus"):

Telecom Plus, which owns and operates Utility Warehouse (UW), is the UK's
leading multiservice utility provider, offering bundled household services -
energy, broadband, mobile and insurance - through one account.

Customers benefit from the convenience of a single monthly bill, consistently
good value across all their utilities and exceptional service levels.

Customers sign up through a network of local UW Partners all across the
country. These Partners recommend UW's services to friends, family and people
they know by word-of-mouth.

Telecom Plus is listed on the London Stock Exchange (Ticker: TEP LN). For
further information please visit telecomplus.co.uk

Cautionary statement regarding forward-looking statements

This Announcement may contain "forward-looking statements" with respect to
certain of the Company's plans and its current goals and expectations relating
to its future financial condition, performance, strategic initiatives,
objectives and results. Forward-looking statements sometimes use words such as
"aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "seek", "may", "could", "outlook" or other words of similar
meaning. By their nature, all forward-looking statements involve risk and
uncertainty because they are based on numerous assumptions regarding the
Company's present and future business strategies, relate to future events and
depend on circumstances which are or may be beyond the control of the Company
which could cause actual results or trends to differ materially from those
made in or suggested by the forward-looking statements in this Announcement,
including, but not limited to, domestic and global economic business
conditions; market-related risks such as fluctuations in interest rates; the
policies and actions of governmental and regulatory authorities; the effect of
competition, inflation and deflation; the effect of legislative, fiscal, tax
and regulatory developments in the jurisdictions in which the Company and its
respective affiliates operate; the effect of volatility in the equity, capital
and credit markets on profitability and ability to access capital and credit;
a decline in credit ratings of the Company; the effect of operational risks;
an unexpected decline in sales for the Company; any limitations of internal
financial reporting controls; and the loss of key personnel. Any
forward-looking statements made in this Announcement by or on behalf of the
Company speak only as of the date they are made. Save as required by the
Market Abuse Regulation, the Disclosure Guidance and Transparency Rules, the
Listing Rules or by law, the Company undertakes no obligation to update these
forward looking statements and will not publicly release any revisions it may
make to these forward-looking statements that may occur due to any change in
its expectations or to reflect events or circumstances after the date of this
Announcement.

 

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