Telecom Plus warms market up ahead of results

Telecom Plus warmed the market up for its full-year results with a reiteration of its expectations on Tuesday.

The FTSE 250 firm - which operates the Utility Warehouse brand - said it was confident of achieving full-year adjusted pre-tax profits of at least £54m in the year to 31 March, in line with previous guidance.

Its total dividend guidance for the year of 46p per share also remained unchanged.

“Cash flow remains strong, in line with management expectations, and we have taken the opportunity to refinance on more favourable terms,” the board said in the statement.

“In the face of continuing strong headwinds, we are pleased to have delivered organic growth of 4.2% in service numbers during the last 12 months, taking the total number of services we are supplying through our Utility Warehouse brand to 2,181,704; membership increased by 17,100 to 598,613,” it added.

Looking ahead, the board said it anticipated all key operational and financial metrics for the businesses will continue to show further progress.