Telecom Plus - Unique proposition drives customer growth
The attractiveness of Telecom Plus’s (TEP’s) bundled utility proposition underpins the progress made in FY24, with record profits and customer numbers. The normalisation of energy prices in the year was offset by growing non-energy prices, while the growth in the customer base to over one million clients helped to boost profits. Management expects to deliver 10–15% growth in net customers in the medium term and is confident in the outlook.Telecom Plus is a utility supplier. The range of services Co. provides include landline telephony (calls and line rental), broadband, mobile, gas, electricity, and its CashBack card. Co.'s reportable segments reflect the two distinct activities around which Co. is organized: Customer Acquisition, which comprises sales of equipment including mobile phone handsets and wireless internet routers to customers; and Customer Management, which includes the supply of fixed telephony, mobile telephony, gas, electricity, internet services and home insurance to residential and small business customers.
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