Telecom Plus, also known as Utility Warehouse or UW, announced its financial and operating highlights for the year ending March 31, 2025. Revenue for the company reached $2.4 billion, down from $2.7 billion in the previous year. Gross profit was up 0.8% year-over-year to $486 million. Adjusted EPS was up 9.4% from 2024.
Customer numbers continued a double-digit growth trajectory, growing 15% during the year to 1,163,608. Organic customer growth equated to a 12.6% increase year-over-year, with Partner numbers seeing an increase from 68,251 in 2024 to 71,710 this year.
The company announced it anticipated delivering total customer growth in 2026 of approximately 15% with continuing low double-digit organic customer growth.
“Our innovative multiservice platform, together with our unique word of mouth route to market, has enabled us to deliver another set of record results,” said Stuart Burnett, UW CEO. “Now into our fourth consecutive year of delivering double-digit percentage customer growth, we are making rapid progress towards our medium term target of supplying subscription-style essential household services to two million customers and beyond. During what seems likely to be a challenging period for the global economy, we are fortunate that our business model makes us largely immune to any changes in trade tariffs, interest rates, economic growth, or business confidence. Indeed, such environments have historically been positive for us, with increasing numbers of people seeking additional income sources and ways to reduce their household bills. By helping households to save time and money on their essential bills, whilst supporting tens of thousands of Partners to earn an additional income, we expect to deliver continuing strong growth in customer numbers, profits and returns to shareholders over the years ahead.”
Full-year 2026 pre-tax profit is now expected to be within the range of $179 million to $187 million.
