No dividend rise at Telecoms

Utility and telecoms supplier Telecoms Plus expects half year earnings and pre-tax profits will be significantly ahead of last year, though it only intends to maintain its dividend at 22p for the current year.The firm reduced energy tariffs in April but recent rises in the forward wholesale prices curves for both gas and electricity over the last few months suggests further reductions are unlikely this year. During the first quarter, customer numbers increased by 5,680 to 351,442 (30 June 2009: 312,652), up 12% compared with the same stage last year. The number of services provided rose by almost 31,000 to 1,075,363 (30 June 2009: 908,882) up 18% over the last 12 months. "We anticipate steady organic growth over the coming months in the numbers of customers, distributors and services we supply, driven by continuing strong demand for our unique multi-utility proposition and the other valuable benefits we provide to our members," chief executive Charles Wigoder said. Telecom Plus