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Telecom Plus - Growth in customers but forecasts lowered

June 2009

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:
  • 298p
While utilities reseller Telecom Plus announced record final results they were slightly behind forecasts, with pretax profit rising 34% to £22.5m on turnover that rose 49% to £278m. Eps was up 37% to 24.2p while it upped the dividend 25% to 17.5p, making for a pleasing 5.9% yield. Net cash reduced from £30m to £25.4m reflecting slower paying energy customers and the £10m purchase and refurbishment of its new freehold head office.The strong results were driven by a 30% increase in the customer base to 281,000 as well as a 34% increase in the number of services sold to 794,000, with average spend per customer rising from £872 to £1,057. The other bright spot was that Telecom Plus' 20% interest in Oxford Power Holdings ...

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Telecom Plus - Reconfirms 22p dividend (May 2010)
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Telecom Plus - 15% upgrade to profit forecast (October 2008)
Telecom Plus - IMS triggers further eps upgrades (August 2008)
Telecom Plus - New Year NAP has nearly doubled (July 2008)
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Telecom Plus - cash pile rises to £34m (October 2007)
Telecom Plus - Massive cash pile (July 2007)
Telecom Plus - Interim results beat expectations (February 2007)
Telecom Plus - Multi utility reseller returning (January 2007)

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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