LONDON (Alliance News) - Multi utility services provider Telecom Plus PLC Tuesday said it remains on track to meet market expectations for its current year.
In a statement ahead of its annual general meeting the company, which trades as Utility Warehouse, said it continues to expect to post an adjusted pretax profit of between GBP54 million and GBP58 million for its current year, and to increase its full year dividend by 15%.
It has continued to trade in line with its expectations since it announced its full year results in June. It warned, however, that trading conditions will remain challenging until other major utility suppliers reduce their standard variable pricing. Only one of the 'Big 6' suppliers has done so, and Telecom Plus expects the other suppliers to follow suit shortly.
"Against this background, our consistent growth and the improvements we are seeing in the quality of our customer base are a continuing strong endorsement of the strength of our distribution channel and unique customer proposition," Telecom Plus said.
Shares in Telecom Plus were up 0.8% at 1,140.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Telecom Plus (TEP)