Telecom Plus Reports Strong Customer Growth in Trading Update

Telecom Plus (TEP.L) announces a trading update showing a promising increase in customer numbers and services, indicating positive growth prospects for the company, as reported.

Date: 03-10-2024

AI Rating: 7

Telecom Plus has provided details in its trading update for the six-month period ending September 30, 2024. The report indicates a significant increase in customer numbers, with an addition of 67,000 customers, reflecting an annualized growth rate exceeding 13%. This suggests solid demand for Telecom Plus's services.

Additionally, the company has successfully increased the number of services provided by 139,000, reaching a total of 3.266 million services. These metrics could positively influence investor sentiment and stock prices due to the demonstrated ability of the company to grow its customer base and service offerings.

Furthermore, the company maintains confidence in its previous guidance, which includes projected customer growth between 12% and 14% and adjusted pre-tax profits ranging from 124 million pounds to 128 million pounds for the full fiscal year. This guidance indicates the company is on track to meet its growth targets and underscores the potential for stability in financial performance.

Stocks: TEP.L