Telecom Plus signals tough 2013
British utility supplier Telecom Plus’s full-year profit rose 12 per cent but it said its profit growth in 2013 would be restricted to about 10 per cent by a need for additional investment and the loss of marketing support from a partner.
This year the company – which supplies gas, electricity, fixed and mobile telecoms and broadband – has to operate without a £3m marketing contribution from power supply partner NPower. However, pre- tax profit for the year to the end of March rose to £30.7m from £27.5m a year ago. Revenue rose 12.6 per cent to £471.5m. Services supplied climbed 18 per cent, compared with a 12 per cent increase last year. Its customer base went up by about 12 per cent to 415,000. It raised its full year dividend by 23 per cent to 27p a share.