Telecom Plus, trading as Utility Warehouse (UW), released its financial results for the first six months of 2023, reporting a 57% spike in revenue over the previous year’s period to $1.1 billion. Adjusted pre-tax profit was also up 36% to $54.7 million.
Customer numbers reached 949,180, a more than 62,000 person increase since March 2023. Total services supplied was just shy of 3 million, an increase from 2.7 million in March 2023. The company is now the seventh largest energy supplier in the UK.
“We have consistently offered the lowest-priced energy tariffs in the UK for over 2 years,” said Stuart Burnett, Co-CEO. “Our unique multiservice model means we can continue to sustainably beat the competition, and is the primary driver of our continued rapid growth. We are fast approaching the 1 million customer milestone, and our current rate of growth places us firmly on track to double the size of the business by welcoming a further million customers to UW over the medium term.”
