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Telecom Plus - More customers taking at least four services

June 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Utilities re-seller Telecom Plus posted strong Q4 results in line with recently upgraded market expectations. Particularly encouraging is the increase in customers taking at least four services, which rose from 40%-50% in Q4. This bodes well for churn rates and bad debts. Over 6,000 distributors attended the recent sales conference (up 10%) and the main focus was on initiatives to make it easier and more rewarding to sign up multi-service customers, including subsidised smart phones, free calls between club members and more competitive broadband tariffs. Cash flow was slightly better than expectations and it now expects a small cash balance at the year-end.The shares have gone quiet but with the forward PE dropping t ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Telecom Plus - More customers taking at least four services

June 2012

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