Telecom Plus PLC (TEP.L), a multiservice utility provider, on Tuesday reported higher profit for the year ended March 31, 2026, supported by strong customer growth. The company also launched a share buyback programme worth up to £40 million.
Separately, Telecom Plus unveiled a five-year growth plan aimed at doubling its multiservice customer base from about 500,000 to over 1 million by fiscal 2031.
Profit before tax for the year rose to £112.98 million from £105.95 million a year earlier.
Excluding one-time items, adjusted profit before tax grew by 4.7% to £132.2 million.
Operating profit increased to £125.41 million from £115.89 million in the prior year.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) rose 9.3% to £161.8 million from £148.1 million a year ago.
Net income climbed to £80.67 million or 99.9p per share from £76.10 million or 95.1p per share last year.
Adjusted EPS increased by 3% to 122.8p from 119.2p last year.
Revenue grew 5.6% to £1.941 billion from £1.838 billion a year ago.
On an organic basis, net customer numbers increased 10.3% to 1.26 million, while total net customer growth reached 23.3%, reflecting the addition of broadband customers acquired from TalkTalk.
The company proposed a final dividend of 12p per share, compared with 57p per share a year earlier, reflecting its revised shareholder distribution policy announced in April. The dividend is payable on August 28, to shareholders on record as of August 17.
Under its five-year plan, Telecom Plus expects adjusted profit before tax of about £175 million and shareholder distributions of around £100 million by fiscal 2031. For fiscal 2027, adjusted profit before tax is forecast in the range of £80 million to £90 million.
As part of the plan, Telecom Plus expects to invest about £55 million annually to strengthen its multiservice offering, expand its partner sales channel, build its consumer brand and enhance its digital capabilities through artificial intelligence.
Telecom Plus shares closed at £956 on Monday, up 0.63%.
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