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Investing.com -- Telecom Plus (LON:TEP) on Tuesday posted an 8.1% increase in adjusted pre-tax profit to £126.3 million for the year ended March 31, 2025, meeting market expectations despite a 9.9% decline in annual revenue.
Revenue fell to £1.84 billion, down from £2.04 billion in 2024. Gross profit rose 0.8% to £358.1 million, compared with £355.2 million a year earlier. Statutory pre-tax profit increased 5.4% to £105.9 million from £100.5 million.
Adjusted earnings per share rose 9.4% to 119.2p, while statutory EPS was up 7.1% to 96.3p.
The company declared a full-year dividend of 94p per share, a 13.3% increase from 83p last year. Net debt to adjusted EBITDA was reported at 0.8 times.
The company, which trades as Utility Warehouse, added 152,119 customers over the year, bringing the total to 1,163,608.
This includes about 25,000 fixed-line and broadband customers transferred from TalkTalk. Excluding the acquisition, organic customer growth stood at 12.6%, in line with the company’s guidance.
Total (EPA:TTEF) service numbers rose by 265,496 to 3,392,593. Partner numbers, referring to individuals promoting the company’s services, increased to 71,710 from 68,251.
Telecom Plus received Which? Recommended Provider status for both energy and broadband services and holds an “Excellent” rating on Trustpilot.
For the year ahead, the company said it expects customer growth of around 15%, including the remainder of the customers to be transferred from TalkTalk.
It forecast adjusted pre-tax profit in the range of £132 million to £138 million for fiscal year 2026.
“By helping households to save time and money on their essential bills, whilst supporting tens of thousands of Partners to earn an additional income, we expect to deliver continuing strong growth in customer numbers, profits and returns to shareholders over the years ahead,” said Stuart Burnett, chief executive at Telecom Plus in a statement.