Telecom Plus annual results ‘in line with expectations’

17 Jun 2020

UK-based communications and utility services provider Telecom Plus, which trades under the Utility Warehouse banner, has published its financial results for the year ended 31 March 2020 (FY20), reporting that group revenue increased by 8.9% year-on-year, to GBP875.8 million (USD1.11 billion). Of the total, turnover derived from the company’s fixed voice and broadband services amounted to GBP125.4 million, up from GBP116.5 million in the previous fiscal year, while revenues from its MVNO services totalled GBP37.4 million (FY19: GBP32.5 million).

In operational terms, the company continued to bolster its fixed broadband subscriber base, which rose to 323,901 as of 31 March 2020, up from 304,678 a year earlier, while the number of mobile accesses on its books increased to 280,220 from 252,206 over the same time period. However, Telecom Plus reported that ‘legacy telephony’ connections continued to decline, falling to 30,337 at the end of the reporting period, down from 34,500 at 31 March 2019.

United Kingdom, Telecom Plus (Utility Warehouse)