RE: Trading update6 May 2026 12:16
Telecom Plus PLC, down 6.8% at 1,087.00 pence, 12-month range 1,067.37p-2,100.00p. Deutsche Bank cuts the London-based provider of household utility services to 'hold' from 'buy', lowering its price target to 1,300p from 2,000p. Telecom Plus, which operates under the Utility Warehouse brand, warned on Tuesday last week that adjusted pre-tax profit for the financial year to March would be at the bottom end of its previously guided range of GBP132 million to GBP138 million, albeit still up from GBP126.3 million for financial 2025. It said this was in light of reduced energy consumption during an "unseasonably" warm winter.