Telecom Plus Financial Performance Since FY In Line With Market Views

14th Jul 2010 07:31

LONDON (Dow Jones)--Telecom Plus PLC (TEP.LN), trading as the Utility Warehouse, supplies a wide range of utility services to both residential and business customers, announced Wednesday the period to June 30, that financial performance since the year end has been in line with market expectations. MAIN FACTS: -The company anticipates that its half yearly report will show earnings and pre-tax profits significantly ahead of the figures for the comparable period last year. -Customer numbers up by 5,680 during the quarter to 351,442 (2009: 312,652) -Number of services up by 30,847 during the quarter to 1,075,363 (2009: 908,882) -It anticipates steady organic growth over the coming months in the numbers of customers, distributors and services we supply, driven by continuing strong demand for its unique multi-utility proposition. -Reduced energy tariffs on April 1 in line with the market; however, the upward movement in the forward wholesale price curves for both gas and electricity over the last few months suggest it is unlikely to see any further reductions this year. -It remains our intention, in the absence of unforeseen circumstances, to recommend a maintained total dividend of 22 pence for the current year. -Underlying cash flow remains in line with management expectations, following the coldest U.K. winter in more than 30 years -Cash balance as at Jun. 30, 2010 of GBP1.0 million will improve significantly by September 30, 2010 -Shares closed Tuesday at 346 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires July 14, 2010 02:31 ET (06:31 GMT)