* Full-year revenue rises 9.5 pct to 658.8 mln stg
* Customer base in the full-year grows to over 530,000
* Shares jump as much as 10.7 pct in morning trade
* Says comfortable with mkt outlook of 50 pct jump in adj
(Adds analyst comments, details, share price)
May 21 British utility Telecom Plus Plc
said it remained 'comfortable' with market expectations for a 50
percent jump in profit this year as demand for its services
continued to grow, sending its shares up as much as 10.7
Shares in the company, which provides gas, electricity,
fixed line telephone and broadband internet services, were the
top percentage gainers on the London Stock Exchange on Wednesday
"We remain comfortable with market expectations for adjusted
pretax profits for the current year of 63 million pounds, and to
delivering a progressive increase in dividends," Chief Executive
Andrew Lindsay said in a statement.
The company reported a 25 percent rise in full-year adjusted
pretax profit at 44.6 million pounds ($75.1 million) for the
year ended March 31, helped by an increase in customer base and
an initial contribution from the new energy supply arrangements
"Forecasts show continuing strong earnings-per-share growth,
with associated benefits to the dividend even as the net debt is
paid down from the current level of 53.6 million pounds, already
below 1x prospective EBITDA," finnCap analyst Andrew
Darley wrote in a note to clients.
Full-year revenue increased 9.5 percent to 658.8 million
pounds. The company's customer base grew to 530,639 during the
period from 461,032 in the prior year.
Telecom Plus has reported a strong set of prelims, 5 percent
ahead of forecasts for adjusted profit before tax and adjusted
diluted earning per share, despite revenue pressure from the
unusually mild winter, Darley wrote.
The company said average revenue per customer would have
shown a further increase during the year, helped by an improved
customer base and slightly higher retail prices, but these
positive factors were more than offset by lower energy
consumption during an exceptionally mild winter.
Telecom Plus said new members taking all five core services
- gas, electricity, home phone, mobile and broadband - have
doubled since the introduction of the new bundled service
structure in November.
The owner of the Utility Warehouse brand said the number of
services provided in the year rose to more than 1.9 million from
1.6 million a year earlier.
Telecom Plus bought back Electricity Plus and Gas Plus Ltd
from Npower in a 218 million pound deal in November, nearly
eight years after selling them to the British arm of Germany's
The deal with Npower, which supplies gas and electricity,
was expected to improve energy margins by 4.25 percent and allow
the company to offer more competitive tariffs along with
ensuring a 20-year supply contract.
Telecom Plus on Wednesday said it raised full-year dividend
by 12.9 percent to 35 pence per share.
Shares in the FTSE 250 company were trading up 10.7 percent
at 1514.89 pence at 0828 GMT.
($1 = 0.5935 British Pounds)
(Reporting by Noor Zainab Hussain in Bangalore; Editing by