I know there's an existing thread for TEP, but I'm blowed if I can find it.
Anyway, things aren't looking too good for this share at the moment. Been on a downward spiral for some weeks, after hitting over 4.
Very low volume today, and sells seem to equal buys, so why the continuing drop? Seriously thinking of getting rid, and taking what is now a very small (and I mean small!) profit.

Any experts on TEP like to add their two pennorth?

Princess

For your info:



NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company

Telecom Plus PLC

2. Name of director

Charles Wigoder

3. Please state whether notification indicates that it is in respect of holding of the shareholder named in 2 above or in respect of a non-beneficial interest or in the case of an individual holder if it is a holding of that person's spouse or children under the age of 18 or in respect of a non-beneficial interest

In respect of 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of shares held by each of them (if notified)


(a) Charles Wigoder 13,006,041
(b) Mrs Elizabeth Wigoder 142,500
(c) HSBC Global Custody Nominee (UK) Limited 500,000
(d) Charles Wigoder Foundation (non-beneficial) 1,500,000
Total 15,148,541


5. Please state whether notification relates to a person(s) connected with the director named in 2 above and identify the connected person(s)

As in 2 above

6. Please state the nature of the transaction. For PEP transactions please indicate whether general/single co PEP and if discretionary/non discretionary

Purchase

7. Number of shares / amount of stock acquired

60,000

8. Percentage of issued class

0.1%

9. Number of shares/amount of stock disposed -

10. Percentage of issued class -

11. Class of security

Ordinary Shares of 5p each

12. Price per share

50,000 @ 323p 10,000 @ 324p

13. Date of transaction

30 March 2004

14. Date company informed

30 March 2004

15. Total holding following this notification


(a) Charles Wigoder 13,006,041
(b) Mrs Elizabeth Wigoder 142,500
(c) HSBC Global Custody Nominee (UK) Ltd 500,000
(d) Charles Wigoder Foundation (non-beneficial) 1,500,000
(e) Jersey House (Developments) Limited 60,000
Total 15,208,541


16. Total percentage holding of issued class following this notification


(a) Charles Wigoder 21.14%
(b) Mrs Elizabeth Wigoder 0.23%
(c) HSBC Global Custody Nominee(UK)Ltd 0.81%
(d) Charles Wigoder Foundation (non-beneficial) 2.44%
(e) Jersey House (Developments) Limited 0.10%
Total 24.72%


If a director has been granted options by the company please complete the following boxes.

17. Date of grant

18. Period during which or date on which exercisable

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved: class, number

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at time of exercise

22. Total number of shares or debentures over which options held following this notification

23. Any additional information

24. Name of contact and telephone number for queries

B. Korel - 020 8955 5000

25. Name and signature of authorised company official responsible for making this notification

B. Korel

Date of Notification

31 March 2004

The FSA does not give any express or implied warranty as to the accuracy of this document or material and does not accept any liability for error or omission. The FSA is not liable for any damages (including, without limitation, damages for loss of business or loss of profits) arising in contract, tort or otherwise from the use of or inability to use this document, or any material contained in it, or from any action or decision taken as a result of using this document or any such material.



SCHEDULE 11



NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company

Telecom Plus PLC

2. Name of director

Keith Stella

3. Please state whether notification indicates that it is in respect of holding of the shareholder named in 2 above or in respect of a non-beneficial interest or in the case of an individual holder if it is a holding of that person's spouse or children under the age of 18 or in respect of a non-beneficial interest

In respect of 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of shares held by each of them (if notified)


(a) Keith Stella 40,000
(b) Charles Wigoder Foundation (non-beneficial) 1,500,000


5. Please state whether notification relates to a person(s) connected with the director named in 2 above and identify the connected person(s)

As in 2 above

6. Please state the nature of the transaction. For PEP transactions please indicate whether general/single co PEP and if discretionary/non discretionary

Purchase

7. Number of shares / amount of stock acquired

3,500

8. Percentage of issued class

0.01%

9. Number of shares/amount of stock disposed -

10. Percentage of issued class -

11. Class of security

Ordinary Shares of 5p each

12. Price per share

323p

13. Date of transaction

30 March 2004

14. Date company informed

30 March 2004

15. Total holding following this notification


(a) Keith Stella 43,500
(b) Charles Wigoder Foundation (non-beneficial) 1,500,000


16. Total percentage holding of issued class following this notification


(a) Keith Stella 0.07%
(b) Charles Wigoder Foundation (non-beneficial) 2.44%


If a director has been granted options by the company please complete the following boxes.

17. Date of grant

18. Period during which or date on which exercisable

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved: class, number

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at time of exercise

22. Total number of shares or debentures over which options held following this notification

23. Any additional information

24. Name of contact and telephone number for queries

B. Korel - 020 8955 5000

25. Name and signature of authorised company official responsible for making this notification

B. Korel

Date of Notification

31 March 2004

Tplus Guy

Yes TEP depend on famaily and friends sentiments to help their family member and mates out to achieve sales. That is why in a way its a pyramid system. Everyone they sign up as a distributer sign up their friend and family member who all contribute to the guy above their cut of the commission. Like all pyramid system it has to give some where along the line. Like less competitive prices to the messes so that so that the numerous levels of the pyrimid can gets their cut of the commission from, in this case their friends and families monthly phone and utility bills.

Can the more enlightened BB posters explain to me why the price of this share drops on what I would think are good results?

The drop is about 3.5% while the yield is about 3.3%. The ext div date waits until AGM to be announced.

The PEG and ROE on these results, to me, still appear reasonable and the companys potential seems good.

I note a little reservation about returns on Gas but will await price changes.

The charts seem to me to be quite reasonable alos. (Todays prices etc. not taken into consideration.

I hold 1493 of these shares at a profit and will continue to hold for a while.

But would appreciate the thoughts of others.

Telecom Plus FY profit up 90 pct on strength in virtual network businessAFX
LONDON (AFX) - Telecom Plus PLC, a UK-based multi-utility provider, reported a 90 pct rise in pretax profit in the year to March, fuelled by a strong performance in its virtual network business.Pretax profit at the company that provides gas, electricity, telephony and internet services jumped to 10.6 mln stg in the 12 months to March 31 from 5.6 mln a year earlier, while full-year sales rose to 81.8 mln stg from 58.0 mln.Operating profit in Telecom plus' virtual network business rose 65 pct to 13.8 mln stg, partially offset by a higher investment within its distribution business, the company said.Telecom Plus had 178,000 customers at the end of March - compared with 134,000 a year earlier - subscribing to over 312,000 services compared with 225,000 the year before.Margins in fixed telephony, mobile telephony, internet and electricity all remain 'extremely satisfactory', the company said.*******But its gas supply business is suffering from 'severe' pressure on margins due to the sharp increase in wholesale prices which have NOT YET BEEN FULLY PASSED ONTO CUSTOMERS.*******

Forgot to mentions Buys 144,000 to Sells 68,000 (Approx) so far today. Interesting and odd to me!!!

If you look at the last few years history this always happens at results time..Im no expert in shares at all but i would presume it would be the profit takers whom jump in a week before results for a quick kill..Give it a week or so to see it climb,,again always happens..

Still going down, any views to the next support?

If it goes through 294, might hold as sitting on ma support ?

What is the bad news on this share? Can't Find Any. Turnover up, Profits up, Dividend up. Know it went ex-dividend 23/6/04 . But forcasts good, business model looks good.

Oh that we had the answer - I like you am totally confused following all the good news you have highlighted.

didn't they say GAS dept profits were severely affected?

Hi Folks,,,like you i cannot understand why it has fallen so low..Maybe it will drop down to the 240 level before picking up,,who knows..It certainly is a time to buy and with our results it is mind boggling why people are asking if this company is worth its price???Glad im not a professional share trader, i would be swinging from a tree right now!!!

Hang tight and hold for long term is my view.

Typlus Guy - If you were a trader and swinging from a tree I have no doubt you would be shaking it at the same time. I have had their telephone provision for 3 months and cut in outgoing is over 50% plus amazing saving with metronet.co.uk as Broadband supplier (only 10 per month for up to 200 MB usage thereafter 0.25p per MB. I am saving so much I can afford to be patient with TEP

I think this share is starting its recovery. Good Pegs, Yield 4.4 -4.9 Well covered. I think the drop in price was over reaction to warning on one part of its earnings.



I have a holding bought at 244p

Bought in @ 241 this am with medium to long term view. Does any one know when the results are out?

Next interims due Dec 2004

I cannot find anything positive in the current chart!

The downtrend looks to be intact.

Andy. A problem with charts relates to the period over which you show it. My vies is that Telecom is in a long term uptrend going back to 2002. The share got somewhat overheated in 2003 and I suspect has now overshot the long-term trend line. MoneyAM only gives you 1 year so this is based on memory; perhaps someone can demonstrate it factually.

I bought TEP in January 2003 around 160p as part of a package of shares based on Shares-assisted research. I decided to also become a Distributor; however I made a lot more money out of the investments so that has gone on the back-burner. I sold out at prices between 330p and 390p around the turn of the year, not because I had lost faith in them but they lost out in contention for funds, primarily to ASOS (ASC). The latter are contender fro share of the year (TEP did pretty well last year); I am sticking with the uptrend but am keeping an eye on TEP, amongst others, for a switch when ASC in turn gets over-heated (which I believe to be inevitable).

My argument is that none of the fundamentals for TEP have changed. The gas market problem was short term based on the small margin between wholesale and consumer prices which we all know is being corrected. Many people don't understand TEP, believing it to be vulnerable to pressures in the utility market. In one sense it is, but this is outweighed by their network marketing model, unique amongst quoted companies. The volume of salesman is growing all the time at negligible cost to the company and they are continually growing the number of services to offer their customer base. I believe thay will continue with their 40% growth rate for the foreseeable future. Yet the PE is down to 20 and the peg factor to 0.25! Price to sales is 1.8. Part of the problem is lack of new flow and it may be that there is nothing much until the interims in December. If these confirm the above projections then they must return to a 2004/5 PE of not less than 20, i.e. a current PE of 28 and a price of more like 340p. Personally, I hope that the rise is delayed so that I have funds to switch in. I actually feel very confident indeed with this perspective so if ann bb reader differs it would be helpful to know. I agree with Fred1new.

azhar and rampage. Having completed the above note, it has struck me as relevant to investing timing that the company's Express Day, attended by well into four figures of delegates, is on 17th October. This is times partly to allow the half-year figures to be discussed; these are then effectively in the public domain. Last year there was an announcement on 17th September on trading upping the forecast and announcing an increased interim dividend. It may well be, although this is surmise, that news giving encouragement to the share price is with us sooner or later. I hope personally not given that my funds are tied up. One thing I am very positive about is that the shares are currently at the bottom of a trough - see my previous entry for a six month prediction.

EW,

Ok here's the longer term chart.



IMHO the downtrand that started in January this year is still intact.

I'm not sure TEP's business model is as sucessful as is being made out, or at least was, previously. Customer sign up is slow, and the customer base is only growing steadily. As an example, Carphone Warehouse signed up 50,000 landline customers to their service in less than three months, whereas TEP took over 3 years to signup 120,000 customers.

More nad more competition is entering the fray, and now British GAS has achieved the landmark of being the first alternaive telephony provider to BT to provide a complete service to the home, ie they do not require their customers to rent the line from BT!

I am a TEP telephony customer, and I have checked the gas and electric tariffs. and they are not as competitive as they were, but are cheaper then my supplier, and I may well switch. However, they never try and entice me, nothing included with my monthly phone bill to tempt me, which seems strange!

looks nasty. Looking at the director dealings we see even they thought 400+ was a bit too high a bit too quick. They have been adding to anything below 350. Me thinks things should start picking up as todays price is 52 week low and considering that there is nothing out there in the public domain to keep the price down.

Name Date Type Amount Price Value Holding (%)

Charles Wigoder 08/07/2004 Purchase 100000 245 245000 15348541 24.957
Charles Wigoder 06/04/2004 Purchase 10000 313 31300 15248541 24.794
Charles Wigoder 06/04/2004 Purchase 30000 315 94500 15238541 24.778
Keith Stella 30/03/2004 Purchase 3500 323 11305 43500 0.071
Charles Wigoder 30/03/2004 Purchase 10000 324 32400 15208541 24.729
Charles Wigoder 30/03/2004 Purchase 50000 323 161500 15198541 24.713
Dominic Wheatley 22/01/2004 Sale 25000 402 100500 243060 0.386
Peter Nutting 22/01/2004 Sale 100000 402 402000 851750 1.349
Charles Wigoder 03/12/2003 Sale 1325000 350 4637500 15148541 24.88
John Levin 28/11/2003 Sale 30000 349 104700 2257996 3.709