Telecom Plus PLC, the UK's leading low-cost multi-utility supplier (Gas, Electricity, Telephony and Broadband), announces its final results for the year ended 31 March 2013.
Financial Highlights:
Revenue up 27.6% to £601.5m (2012: £471.5m)
Profit before tax up 12.7% to £34.6m (2012: £30.7m)
Average revenue per customer up 14.5% to £1,363 (2012: £1,190)
EPS up 14.5% to 38.7p (2012: 33.8p)
Full year dividend up 14.8% to 31p per share (2012: 27p)
Operating Highlights:
Strong organic growth
Record increase in service numbers of 221,037
Customer base now exceeds 461,000 (2012: 415,000)
Continuing improvement in customer quality
Lower churn
Andrew Lindsay, Chief Executive Officer, commented:
"I am very pleased with our strong performance this year, during which we have achieved record growth of more than 220,000 net services, taking the total number we provide to over 1.6 million.
"The quality of our customer base has continued to improve, with over 55% of new members applying for at least 4 core services during the year. This has resulted in lower churn, lower bad debts and higher average revenue per customer.
"We remain focused on delivering significant further organic growth over the coming years, building on the strong levels of distributor activity we have seen since our recent sales conference in March, and the solid foundations already in place. Our current market share of around 1.5% of the UK market clearly illustrates the scale of the opportunity we have."
