Telecom Plus PLC Final Results 2020 – revenue up 8.9% to £875.8m
Financial highights (Year End Results 2020)
- Results in line with expectations
- Revenue up 8.9% to £875.8m
- Adjusted profit before tax up 8.0% to £60.8m
- Statutory profit before tax up 11.9% to £48.1m
- Adjusted EPS up 4.7% to 61.8p
- Statutory EPS up 8.0% to 45.9p
- Full year dividend up 9.6% to 57p per share
- New £150m debt facilities agreed until January 2023
Operating highlights
- Continued growth in both Members and Partners
- Services supplied up 6.4% to over 2.0 million
- Rising Membership quality, with over 30% now taking their energy, broadband and mobile services from us
Andrew Lindsay, CEO, commented:
“Our results this morning show record sales, earnings and dividends, clearly demonstrating the resilience and strength of our business model. I am extremely pleased at how well our Partners and Employees have adapted to the Covid-19 environment, and the limited impact which this is having on our business.
“We have historically demonstrated strong counter-cyclical qualities, with the opportunity for our Partners to earn money, and for our Members to save money, becoming increasingly relevant during challenging economic periods. This dynamic is driving a healthy recovery in Partner activity despite social distancing restrictions, as they become increasingly comfortable with new ways of building their businesses, and growth has recently started returning towards pre-lockdown levels.
“The strength of our balance sheet is in contrast to most of our competitors in the energy markets. This, combined with a highly motivated and growing Partner network, and a significant fall in the Ofgem price cap expected this autumn, means that we look forward to the year ahead with considerable confidence.”
Download full Final Results 2020 below…
