Telecom Plus increases its 2015 full year dividend by 14.3%

DividendMax Ltd.

Telecom Plus increases its 2015 full year dividend by 14.3%

Financial Highlights:

Revenue up 10.5% to £729.2m

Adjusted profit before tax up 22.5% to £52.2m

Statutory profit before tax up 21.3% to £42.1m

Adjusted EPS up 9.3% to 53.0p

Full year dividend up 14.3% to 40p per share

Operating Highlights:

Over 580,000 Members

Service numbers up by 208,000 to 2.1 million

Continuing strong organic growth in both services and Members

Relocated to new headquarters, providing capacity for future growth

Shortlisted by Which? for 'Best Telecom Services Company' in 2015 Annual Awards

Public Champion in European Business Awards

Andrew Lindsay, CEO, commented:

"I am very pleased with the double digit growth that we have delivered in the face of unprecedented headwinds this year, and take confidence from this strong endorsement of our unique business model. 

"We remain focussed on genuinely looking after our Members: this is the bedrock of our business model and we were therefore delighted to have been shortlisted by Which? as 'Best Telecom Services Company' in their 2015 Annual Awards. It is through continuing to earn the trust of our Members, and treating them fairly, that we will achieve our medium term goal of supplying a million households. 

"We wholly support the pressure that the Secretary of State is applying to the 'Big 6' energy suppliers to pass their lower wholesale costs onto the majority of their customers, by reducing their standard variable tariffs.  Furthermore, we encourage the Competition and Markets Authority to be bold in addressing the fundamentally unfair and increasingly prevalent practices in the energy markets that are clearly detrimental to the majority of UK consumers. 

"Looking forward we are confident that we will deliver record revenues, profits, and earnings per share for the current year, and expect to increase our dividend by a further 15% to 46p per share."

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