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Telecom Plus - Interim results beat expectations

February 2007

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.

  • Epic Code:
  • TEP
  • Price:
  • 202p
After we went to press but before the last issue landed, multi utility re-seller Telecom Plus announced interims that were strongly ahead of expectations, spiking the shares to a new high of 209p. For the six months ended 30 September, turnover rose 32% to £68.5m, while pretax profit increased 9% to £5.5m. Of particular encouragement was the surge in net cash to £18.7m, helped by improved terms from the recent energy supply deal with nPower. While customer numbers were broadly level at 213,000, products per customer increased to 2.4 (versus 2.1 in September ’05 and just 1.85 in September ’04) and as a result total services provided increased to 521,000. As before, it was the company’s telephony ...

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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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