Telecom Plus PLC, also known as Utility Warehouse (UW), announced its financial results for the first half of 2025. Revenue for the first six months ending September 30, 2025 were $981 million with a gross profit of $207 million. Adjusted pre-tax profit was $42.8 million.
The company experienced compound double-digit customer growth for the fourth consecutive year, with customer numbers increasing by 222,977 to 1,386,585. The company’s annualized organic customer growth rate was 11%, with service numbers increasing by 256,375 to 1,386,585. The company’s cross-sell into its acquired TalkTalk customers exceeded expectations, with around 5,000 customers upgraded and cross-sold, which contributed to service numbers increasing by 256,375 to 3,648,968.
The company believes there is an ongoing favorable environment for recruitment of new Partners because of macro-economic pressures and long-term structural trends, and is confident that it will meet full-year 2026 guidance of around 25% total customer growth. Expectations continue to be confident that customer numbers will increase to 2 million over the medium-term.
“We are pleased to have delivered double digit compound customer growth for a fourth consecutive year, 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 one of the UK’s most competitive mobile propositions, 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.”
