Upbeat at Telecom plus

By THIS IS MONEY
Updated:

 

CONFIDENCE is high at household communications and utility provider Telecom plus, which has pledged a minimum 4p annual dividend payout and further profitable growth.

Chief executive Charles Wigoder, who made a fortune selling his mobile phones chain Peoples Phone to Vodafone for £77m, said Telecom plus was now concentrating on exploiting its recently secured gas supply licence. That arrived in September, six months later than expected, but has helped lift total customer numbers to about 90,000 from 75,000 a year ago.

Pre-tax profits in the six months to 30 September rose 123% to £2m on sales up 6% to £14.6m. The half-year dividend is up fourfold to 2p.

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