Source - Alliance News

Telecom Plus PLC on Thursday said it expects to meet its full-year guidance as it reported a record year of customer growth.

The multi-utility provider, offering services in energy, broadband and mobile said adjusted pretax profit for the year ended March 31 is anticipated to be marginally above £95 million, in line with its upgraded guidance. It would be up at least 53% from £61.9 million.

The firm also confirmed that it will pay a total dividend of 80 pence per share for financial 2023, up 40% from 57p per share the year prior.

Telecom Plus said it exceeded its growth targets, gaining 157,899 new customers during the period, compared with 71,269 in financial 2022, bringing its total to 886,579 customers.

The firm also saw a 533,239 increase in service numbers to 2.8 million, compared with a rise of 191,112 a year ago.

Looking ahead, the firm said it is confident in delivering double-digit organic customer growth.

Co-Chief Executives Andrew Lindsay and Stuart Burnett said: ‘The business has delivered an exceptional performance over the last 12 months, with record results on virtually all metrics.

‘As the UK’s only multiservice utility provider, UW remains uniquely positioned to help families not only save on their household bills but also to earn a much-needed additional income. This gives us confidence in our ability to deliver another year of double-digit organic customer growth and to make further progress towards our target of welcoming an additional one million customers in the next 4-5 years.’

Telecom Plus shares fell 1.0% to 1,920.00 pence each in London on Thursday morning.

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