Telecom Plus, the multi-service utility, internet, and insurance provider, has announced a third year of robust double-digit growth. The FTSE 250 company, which offers energy, broadband, mobile, and insurance services bundled into one account, reported that it now serves just over 1 million households, as reported by .
In the first half of its financial year ending on 30 September, Telecom Plus saw its customer numbers swell by 67,000, marking a 13% increase. "Our current growth rate keeps us on track to increase the size of our high quality base to 2m customers over the medium term," the company stated.
By offering British consumers the convenience of managing all their utilities through a single account, Telecom Plus has maintained strong performance despite the challenges posed by rampant inflation in the energy sector. The firm's success, it claims, "clearly demonstrates our ability to sustainably outcompete, in a wide range of different market conditions, as a result of our unique multi-service proposition and differentiated route to market."
The company has maintained its forecast for customer growth at 12% to 14% and for an adjusted pre-tax profit of £124m-£128m for the full fiscal year.
Earlier in the year, Telecom Plus, operating under the Utility Warehouse brand, introduced an EV tariff designed for multi-service customers, featuring competitive overnight charging rates, alongside the launch of a faster full fibre broadband service.
Stuart Burnett, CEO, commented: "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."
He further emphasised the importance of their services during the winter months, stating: "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."
Burnett concluded by saying: "With a new market-leading EV 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."
