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
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Stuart Burnett, Co-CEO
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0208 955 5000
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Nick Schoenfeld, CFO
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For Investor Relations
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Julian Wais
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07720 999764
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jwais@uw.co.uk
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For Media Relations
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Lansons Communications LLP
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Ed Hooper
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07783 387713
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utilitywarehouse@lansons.com
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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.