Mission to become the Nation’s most trusted utility provider – Telecom Plus PLC (Chairman’s Statement)
Ongoing mission to be the Nation’s most trusted utility provider
I am pleased to report another satisfactory year for the Company in which we have seen revenues, profits and dividends all reach record levels, accompanied by further organic growth in both customer and service numbers.
Adjusted pre-tax profits increased by 8.0% to £60.8m (2019: £56.3m), and statutory pre-tax profits advanced by 11.9% to £48.1m (2019: £43.0m), on revenue up by 8.9% to £875.8m (2019: £804.4m); adjusted earnings per share for the year rose by 4.7% to 61.8p (2019: 59.0p), and statutory EPS increased by 8.0% to 45.9p (2019: 42.5p).
Customer numbers for the year advanced by 2.7% (2019: 4.0%) to 652,237 (2019: 635,039) and service numbers advanced by 6.4% (2019: 8.8%) to 2,022,716 (2019: 1,901,319) reflecting a further improvement in the quality of our customer base.
This creditable outcome clearly demonstrates the resilience and strength of our unique business model. It has been achieved in the face of an energy market that continues to be distorted by suppliers with wholly unsustainable pricing strategies, and the impact from Covid-19 which brought the consistently strong levels of customer gathering activity we had been seeing from our Partners throughout the period to a near standstill as the country went into lock-down.
We received a number of awards during the year recognising both the value we offer and the quality of service provided by our UK-based support teams, including being ranked by Which? as one of the top suppliers and/or as a recommended provider for all our core services; we also received four awards from Moneywise.
These third party independent and prestigious endorsements are testament to our customer-centric approach, our commitment to treating our Members fairly, our ongoing mission to be the Nation’s most trusted utility provider, and the significant resources invested in delivering the best possible customer service.
15 June 2020
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