(Adds analyst comment, details, share movement)
July 15 British utility company Telecom Plus Plc
said it expected first-half profit to be significantly
higher than last year as it saw a 25 percent growth in customer
additions during the first quarter on strong interest from
Shares in the company jumped nearly 10 percent in morning
trade on the London Stock Exchange, making them the biggest
percentage gainers on the FTSE-250 Midcap Index.
Telecom Plus said it continued to expect full-year profit to
grow by almost 50 percent to 63 million pounds ($107.2 million)
and its target of growing customer base to about 600,000 by the
end of the year.
The company owns and operates the Utility Warehouse brand
that provides gas, electricity, fixed-line telephone and
broadband internet services, allowing customers to save on
utility bills by using a single supplier.
Telecom Plus said it added 16,379 customers in the quarter
ended June 30, taking its customer base to 547,378 as of the end
The company, which relies on word-of-mouth and part-time
distributors called 'Partners' for organic growth, said total
Partner numbers increased to 46,602, up 2,500 in the quarter.
"The quality of customers joining has remained high, with
over 25 percent of new residential customers applying for all 5
core services - this is a good reflection on the 'stickiness' of
the customer," FinnCap analyst Harold Evans said in a note.
Telecom Plus shares were up 7.8 percent at 1332.59 pence at
($1 = 0.5877 British Pounds)
(Reporting by Abhiram Nandakumar in Bangalore; Editing by