Pre-Close Trading Update

RNS Number : 8730D

Telecom Plus PLC

30 March 2011

 



30 March 2011

Telecom Plus PLC (the "Company")

Pre-Close Trading Update

Telecom Plus PLC (trading as the Utility Warehouse), which supplies a wide range of utility services (gas, electricity, fixed line telephony, mobile telephony and broadband internet) to both residential and business customers, today issues a trading update for its financial year ending 31 March 2011.

The last quarter of the current financial year, which ends tomorrow, has seen a continuation of the positive trends referred to in our Interim Management Statement issued on 14 February 2011. We are particularly pleased with the encouraging high level of demand from customers for the new mobile tariffs we introduced approximately three months ago, and the recent increase in the number of new distributors joining the business following our decision six weeks ago to reduce their joining fee for a promotional period.

We remain comfortable with consensus market expectations for our financial performance to 31 March 2011 and, in the absence of unforeseen circumstances, it remains our intention to recommend a final dividend of 14p per share, which would bring the total dividend for the year to 22p per share. Cash flow remains in line with previous guidance.

Our main distributor sales conference is being held this weekend, and we have received bookings from around 5,500 distributors. Based on our experience of previous years, we anticipate that the enthusiasm generated by this event will underpin the current encouraging levels of activity and help us to meet our growth objectives for the coming financial year.

We expect to report our results for the year ending 31 March 2011 on Wednesday 25 May 2011.

Commenting, Andrew Lindsay, Chief Executive Officer, said:

"We are pleased with the continuing positive momentum being demonstrated by the business, with strong underlying growth and improving earnings visibility. We believe our focus on delivering consistently good value to our members, combined with exceptional levels of customer service, place us in a strong position to maintain this momentum in future. I look forward to providing further details with our final results statement in May."

For more information please contact:

Telecom Plus PLC

Charles Wigoder, Executive Chairman                                                                                020 8955 5000

Andrew Lindsay, Chief Executive          

Chris Houghton, Finance Director          

Peel Hunt

Richard Kauffer / Dan Webster                                                                                           020 7418 8900

Brewin Dolphin

Nick Owen                                                                                                                       0845 059 6412

MHP Communications

Reg Hoare / Katie Hunt                                                                                                     020 3128 8100

About Telecom Plus PLC ('Telecom Plus'):

Telecom Plus, which owns and operates the Utility Warehouse brand, is the UK's only fully integrated provider of a wide range of competitively priced utility services spanning both the Communications and Energy markets.

Customers benefit from the convenience of a single monthly bill, consistently good value across all their utilities and exceptional levels of customer service. Telecom Plus does not advertise, relying instead on 'word of mouth' recommendation by existing satisfied customers in order to grow its market share.

Telecom Plus has a wholly owned subsidiary called TML which was purchased in 2002. TML supplies predominantly fixed line telephony and broadband internet to small and medium sized business customers through a network of authorised resellers and dealers.

Telecom Plus also has a 20% shareholding in Opus Energy Group Ltd (which changed its name from Oxford Power Holdings Ltd on 28 October 2010), a successful, profitable and fast growing independent supplier of Gas and Electricity to small, medium and large business customers.

Telecom Plus is listed on the London Stock Exchange (Ticker: TEP LN).  For further information please visit: www.utilitywarehouse.co.uk.

 

END

 

 

TSTJLMLTMBITBFB