Telecom Plus increases its 2017 interim dividend by 4.5%

DividendMax Ltd.

Telecom Plus increases its 2017 interim dividend by 4.5%

Financial highlights:

Revenue down 0.9% to £291.3m (2015: £294.0m) due to warmer weather and lower gas prices

Adjusted profit before tax up 11.4% to £25.1m (2015: £22.5m); statutory £18.7m (2015: £15.2m)

Adjusted earnings per share up 10.3% to 25.6p (2015: 23.2p); statutory 17.8p (2015: 14.3p)

Interim dividend increased by 4.5% to 23p per share (2015: 22p)

Adjusted full-year pre-tax profits are expected to be towards the upper-end of our indicated £55m to £59m range

Operating highlights:

Further organic growth in line with previous guidance

Total services supplied up by 52,037 for the period to 2,233,741 (2015: 2,146,935)

Customer ("Member") numbers for the period up by 5,450 to 604,063 (2015: 595,098)

Gap between introductory fixed term energy deals and standard tariffs starting to narrow

Over 1 million LED light bulbs installed free of charge under Project Daffodil

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