Nov 20 British utility Telecom Plus Plc
reported an 8 percent rise in first-half profit as it added more
customers and said it expects to post a record profit and
turnover for the year.
The company, which provides gas, electricity, fixed line
telephone and broadband internet services, said customer numbers
rose by 22,657 to 438,146 during the six months ended Sept. 30.
Telecom Plus also said the second half of the fiscal year
was off to a strong start and that it had taken advantage of
recent price hikes by larger energy suppliers by positioning
itself more competitively.
High utility bills have been a major driver of household
expenditure in the United Kingdom at a time when Britons are
coping with the biggest drop in disposable incomes for more than
On Tuesday, the government announced plans to limit energy
suppliers to a maximum of four tariffs on gas or electricity to
improve transparency and help customers find the cheapest deal
in the government's latest attempt to tackle rising prices for
For the first half, Telecom Plus reported a pretax profit of
12.1 million pounds ($19.3 million), up from 11.1 million pounds
a year earlier. Revenue increased 30 percent to 210 million
The company raised its interim dividend to 13 pence from 10
pence a year earlier.