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Telecom Plus PLC on Thursday said it was looking ahead to its full-year results with ‘high confidence’ and reaffirms full-year guidance based on a strong first half of trading. Telecom Plus is a London-based provider of bundled household utility services, including energy, broadband and mobile telecommunications, and insurance under the Utility Warehouse brand. It said that customer numbers have increased by 67,000 in the six months to September 30, rising 10% to 1.1 million from approximately 1.0 million at its year-end on March 31. The company said its rate of growth means it is on track to reach 2 million customers over the medium term. This will be the third consecutive year of double-digit percentage customer growth for the company. Number of services supplied also increased by 139,000 to 3.3 million in total, up 6.5% from approximately 3.1 million at year-end. In September, Telecom Plus launched its first electric vehicle tariff, offering market-leading overnight charging prices for multi-service customers, as well as its fastest-ever full fibre ’900’ broadband product. Chief Executive Officer Stuart Burnett said: ‘We are pleased to see our compounding double-digit customer growth continue, simply by helping households to stop wasting time and money. Our unique multiservice model means we can continue to provide market-leading savings, and sustainably outcompete, in a wide range of market conditions. This is ever more important for our customers as we head into the winter months, helping to offset the recent increase in the energy price cap. With a new market-leading electric vehicle and full fibre broadband offering, our partners have even more ways to help their friends and family to save, whilst building a valuable long-term additional income for themselves.’ Telecom Plus said it remains confident in its previous guidance, and expects customer growth between 12-14% for the full year, as well as adjusted pretax profit between £124 million and £128 million. This will be a 23-27% increase from the pretax profit of £100.5 million reported for the year ended March 31. The company will release its interim results on November 26. Shares in Telecom Plus were up 1.1% at 1,794.08 pence each in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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