REG - Telecom Plus PLC - Trading Update and Notice of Results

Telecom PlusAnnouncement

Tue 07:00

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RNS Number : 2693C  Telecom Plus PLC  07 October 2025

 

 Embargoed until 07.00  7 October 2025

 

Telecom Plus PLC

Trading Update and Notice of Results

"Compound double digit customer growth continues; cross-sell into acquired
TalkTalk customers exceeding expectations"

Telecom Plus PLC (trading as Utility Warehouse), an integrated and unique
platform for subscription-style essential household services in the UK, today
issues a trading update for the six-month period ending 30 September 2025.

H1 trading overview

Total customer numbers increased by around 223k (c.19%) in the first 6 months
of FY25 to over 1.386m, including substantially all of the customers we
acquired from TalkTalk in two tranches earlier this year.

Organic customer growth during H1 was around 5.5% (11% annualised)
demonstrating the continued ability of the business to sustainably outcompete
in a wide range of different market conditions, as a result of our unique
multi-service proposition and differentiated route to market.  The number of
services supplied increased by over 256k to a total of around 3.65m.

Our cross-sell trial into the first tranche of broadband customers acquired
from TalkTalk is continuing to perform ahead of expectations, with around 5k
customers upgraded and cross-sold to so far.  This gives us significant
confidence in our ability to cross-sell into any further books of customers we
may acquire in future, and we are excited about the future opportunities that
this represents.

With over 1.386m households now taking their essential home services from UW,
our current growth rate keeps us on track to increase the size of our high
quality base to well over 2 million customers over the medium term.

We have now delivered a compound annual growth in customers of 20% over the
last 4 years, against a macro backdrop that has seen energy prices rising,
falling and broadly stable.

With the business continuing to perform strongly, and significant further
growth opportunities ahead, we remain focussed on maintaining and enhancing
the benefits of our unique multi-service customer proposition.  At our recent
Partner 'Amplify' event in early September we launched the UK's most
competitive mobile offering, complementing our existing market-leading
position in energy, broadband and insurance.  As a result, our Partners are
moving into H2 with high confidence and strong momentum.

Outlook and notice of results

We remain confident in our previous guidance for both customer growth and
adjusted pre-tax profits for the full year, and look forward to providing a
further update with our half year results on 25 November 2025.

H1/H2 profit phasing

Whilst historically our H1/H2 profitability has been split roughly 35/65 in
favour of H2, we expect this split to change to around 25/75 for both the
current and future financial reporting periods.  This is due to the way that
certain industry costs (such as metering) are now being allocated to us more
equally across the financial year (as is typical in the energy industry)
following the previously announced evolution of our wholesale energy supply
agreement.  This change is purely one of phasing, and has no impact on our
total expected full year profits.

Stuart Burnett, CEO, said:

"We are pleased to have maintained our compound double digit customer growth
rate for a further six months, simply by helping households to save time and
money on their essential household bills, and demonstrating the ability of our
unique multiservice model to provide market-leading savings in a wide range of
market conditions.

We have exceeded our initial cross-sell expectations into the first tranche of
broadband customers we acquired from TalkTalk, and are excited by the future
opportunities this creates.

With the UK's most competitive mobile proposition, alongside our
market-leading offering in energy, broadband and insurance, our Partners have
even more ways to help their friends and families to save, whilst building a
valuable long-term additional income for themselves."

For more information please contact:

 

Telecom Plus PLC

Stuart Burnett,
CEO
                020 8955 5000

Nick Schoenfeld, CFO

Peel Hunt

Dan Webster / Andrew
Clark
                020 7418 8900

Deutsche Numis

Mark Lander / Joshua
Hughes
                020 7260 1000

 

For investor relations:

Matthew
Walker
                matthew.walker@uw.co.uk

For media relations:

Lansons | Team Farner

Tom Baldock / Ed Hooper
                            07860 101715 / 07783
387713
 
utilitywarehouse@lansons.com

About Telecom Plus PLC ("Telecom Plus"):

Telecom Plus, which owns and operates Utility Warehouse (UW), is the UK's only
integrated multiservice utility platform, offering a wide range of
subscription-style essential household services - energy, broadband, mobile
and insurance; all these services share similar characteristics where the
revenues and profitability are highly predictable, and where customers can be
expected to remain with us for an extended period once all their chosen
services have been successfully migrated.

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 national network of local UW Partners, who
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

LEI code: 549300QGHDX5UKE58G86

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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