Advertisement
UK markets close in 2 hours 16 minutes

  • FTSE 100

    8,121.40
    +42.54 (+0.53%)
     

  • FTSE 250

    19,783.76
    +181.78 (+0.93%)
     

  • AIM

    754.65
    +1.53 (+0.20%)
     

  • GBP/EUR

    1.1666
    +0.0009 (+0.08%)
     

  • GBP/USD

    1.2506
    -0.0005 (-0.04%)
     

  • Bitcoin GBP

    51,155.07
    +691.77 (+1.37%)
     

  • CMC Crypto 200

    1,384.01
    -12.52 (-0.90%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CRUDE OIL

    84.22
    +0.65 (+0.78%)
     

  • GOLD FUTURES

    2,360.90
    +18.40 (+0.79%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,060.86
    +143.58 (+0.80%)
     

  • CAC 40

    8,053.86
    +37.21 (+0.46%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

Utility firm Telecom Plus full-year profit rises 25 pct

Reuters - UK Focus

* Revenue rises 9.5 pct to 658.8 mln stg

* Customer base grows to over 530,000 (Adds outlook, details on dividend)

May 21 (Reuters) - British utility company Telecom Plus Plc (LSE: TEP.L - news) said full-year adjusted pretax profit rose 25.3 percent, helped by an increased customer base and an initial contribution from the new energy supply arrangements with Npower.

The company, which provides gas, electricity, fixed line telephone and broadband internet services, said it remained comfortable with market expectations for adjusted pretax profit of 63 million pounds for the current year, an increase of almost 50 percent on last year.

ADVERTISEMENT

Adjusted pretax profit rose to 44.6 million pounds ($75.1 million) for the year ended March 31, from 35.6 million pounds a year earlier.

Telecom Plus said revenue increased 9.5 percent to 658.8 million pounds. Its customer base grew to 530,639 during the period from 461,032 in the prior year.

The owner of the Utility Warehouse brand said the number of services provided in the year rose to more than 1.9 million from 1.6 million a year earlier.

Telecom Plus said new members taking all five core services - gas, electricity, home phone, mobile and broadband - have doubled since the introduction of the new bundled service structure in November.

Telecom Plus signed a 218 million pound deal to buy back Electricity Plus and Gas Plus Ltd from Npower in November, nearly eight years after selling them to the British arm of Germany's RWE AG (Xetra: RWE.DE - news) .

The deal with Npower, which supplies gas and electricity, was inked to improve energy margins by 4.25 percent and allow the company to offer more competitive tariffs along with ensuring a 20-year supply contract with Npower.

Telecom Plus on Wednesday said it raised full-year dividend by 12.9 percent to 35 pence per share.

Shares in the company closed at 1370 pence on Tuesday on the London Stock Exchange (Other OTC: LDNXF - news) . ($1 = 0.5935 British Pounds) (Reporting by Noor Zainab Hussain in Bangalore; Editing by Gopakumar Warrier)