Telecom Plus (TEP)

Sector:

Telecom Operators

Index:

FTSE 250

1,010.00p
   
  • Change Today:
    -6.00p
  • 52 Week High: 1,494.00
  • 52 Week Low: 1,001.75
  • Currency: UK Pounds
  • Shares Issued: 78.78m
  • Volume: 155,576
  • Market Cap: £795.70m
  • RiskGrade: 100

Telecom Plus ends year in line with guidance

By Josh White

Date: Wednesday 28 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Utility retailer Telecom Plus said on Wednesday that revenues and profits for the financial year just ended were expected to be in line with its guidance.
The FTSE 250 company, which trades under the 'Utility Warehouse' brand, said customer numbers were up 0.8% for the year ended 31 March, compared to 2.7% in the 2020 financial year, while services were ahead 2.5%, down from 6.2% year-on-year, despite extended further periods of lockdown.

It described a "resilient performance" across all aspects of the business despite the challenges of the Covid-19 pandemic, although with additional costs that would not otherwise have been incurred.

Telecom Plus said it saw strong growth in the number of partners joining its independent referrals programme in the second half, generating faster customer growth.

It made no change to its previous dividend guidance of 57p per share for the year, in line with its distribution for the prior year.

On the financial front, Telecom Plus said it expected full-year adjusted pre-tax profits to be in line with expectations at around £56m, down from £60.8m year-on-year, reflecting the impact of lower retail energy prices from 1 October in line with a reduction in the Ofgem price cap, as well as higher regulatory costs, and extra operating costs associated with the coronavirus crisis.

Telecom Plus said its balance sheet remained "robust", with a year-end net debt position of around £63m excluding finance leases, and undrawn facilities of £60m.

"Against the challenging backdrop of the past year, I am very pleased with the resilient performance of the business, and proud of the spirit that our 48,000 partners have demonstrated throughout the period," said chief executive officer Andrew Lindsay.

"We are emerging from the pandemic with considerable optimism about the future - as millions prepare to return to their workplaces after prolonged periods of working from home, the alternative flexible income opportunity that we offer our partners has never held such appeal.

"We are hugely excited by the prospect of helping many more people to get on in life and achieve their goals in partnership with Utility Warehouse over the months and years ahead, and are investing in both our customer and partner propositions to meet the rising demand that we anticipate."

At 0828 BST, shares in Telecom Plus were up 1.84% at 1,303.58p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Telecom Plus Market Data

Currency UK Pounds
Share Price 1,010.00p
Change Today -6.00p
% Change -0.59 %
52 Week High 1,494.00
52 Week Low 1,001.75
Volume 155,576
Shares Issued 78.78m
Market Cap £795.70m
RiskGrade 100

Telecom Plus Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.82% above the market average59.82% above the market average59.82% above the market average59.82% above the market average59.82% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
79.3% below the market average79.3% below the market average79.3% below the market average79.3% below the market average79.3% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income
89.35% above the market average89.35% above the market average89.35% above the market average89.35% above the market average89.35% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
14.34% above the market average14.34% above the market average14.34% above the market average14.34% above the market average14.34% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Telecom Plus Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Jul-21 26-Nov-20
Paid 30-Jul-21 11-Dec-20
Amount 30.00p 27.00p

Trades for 17-Sep-2021

Time Volume / Share Price
16:35 97,520 @ 1,010.00p
16:29 14 @ 1,006.00p
16:29 15 @ 1,008.00p
16:29 46 @ 1,006.00p
16:29 49 @ 1,006.00p

Telecom Plus Key Personnel

CEO Andrew Lindsay
CFO Nick Schoenfeld

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