Telecom Plus, also known as Utility Warehouse (UW), issued a trading update for the first half of 2025, ending September 30. Total customers in the first half of 2025 increased by 19% to more than 1.386 million people, which includes customers acquired from TalkTalk earlier in the year. The company showed positive organic growth of 5.5%, which the company says demonstrates its continued ability to sustainably outcompete in a wide range of market conditions.
UW increased its number of services supplied to 3.65 million and says its customer acquisition from TalkTalk has performed ahead of expectations, with 5,000 customers upgraded and cross-sold so far. This success, the company stated, serves as proof of concept for its ability to cross-sell into “further books of customers” that the company may acquire in the future.
At this current growth rate, UW has delivered a compound annual growth rate in customer numbers of 20% over the last four years and is on track to increase the size of its base to well over 2 million customers over the medium term.
“We are pleased to have maintained our compound double digit customer growth rate for a further six months, simply by helping households to save time and money on their essential household bills, and demonstrating the ability of our unique multiservice model to provide market-leading savings in a wide range of market conditions,” said Stuart Burnett, UW CEO. “We have exceeded our initial cross-sell expectations into the first tranche of broadband customers we acquired from TalkTalk, and are excited by the future opportunities this creates. With the UK’s most competitive mobile proposition, alongside our market-leading offering in energy, broadband and insurance, our Partners have even more ways to help their friends and families to save, whilst building a valuable long-term additional income for themselves.”
