Telecom Plus Plc (TEP.L), a British multi-utility supplier, on Tuesday reported lower profit in its first half, despite higher revenues. Further, the company maintained fiscal 2026 outlook.
On the London Stock Exchange, Telecom plus shares were losing around 4.04% to trade at 1,671.60 pence.
Looking ahead for fiscal 2026, the company said it is confident to meet targets of adjusted pre-tax profits within a range of 132 million pounds to 138 million pounds, which is slightly below the level of customer growth.
Total customer growth is still expected to be around 25 percent, including the customers transferred from TalkTalk, with continuing low double digit organic customer growth.
The company added that it is firmly on track to achieve next milestone of two million customers over the medium term, and expects to make significant further progress towards this in the second half of the year.
Over the medium term, the company projects annual percentage customer growth to remain within the 10-15 percent range, and adjusted pre-tax profits to increase broadly in line with customer growth.
Further, the Board is proposing to increase the interim dividend to 38 pence from 37.0 pence last year. The dividend will be paid on December 19 to shareholders on the register on December 5.
In the first half, pre-tax profit declined to 24.56 million pounds from 39.0 million pounds last year. Earnings per share fell to 22.0 pence from 34.8 pence a year ago.
Adjusted pre-tax profit was 32.5 million pounds, compared to prior year's 46.1 million pounds. Adjusted earnings per share were 31.5 pence, compared to 43.6 pence a year ago.
Revenues, however, grew to 744.5 million pounds from prior year's 697.8 million pounds.
Customer numbers increased by 222,977 from March end to 1,386,585, representing customer growth for first half of over 19 percent.
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