Telecom Plus PLC, trading as Utility Warehouse and known as UW, announced its financial results for the year ending March 31, 2026. Full-year 2026 revenue reached $2.5 billion, up 5.6% year-over-year with a gross profit of $514 million, representing an 8.7% year-over-year improvement. Adjusted EPS improved by 3% year-over-year.
Total customers in 2026 grew by 23.3% from the previous year to 1.43 million, with 1.26 million categorized as “organic customers.” The company’s cross-sell trial into the acquired TalkTalk customers continued to perform well with 14,500 customers upgraded and cross-sold at the period’s end.
As part of its financial results, the company also revealed a new five-year plan, which intends to double the number of high-quality and multiservice customers to more than one million by 2031. The plan builds on the company’s differentiated business model and will require a $72 million annual investment, with the goal of optimizing its multiservice proposition, scaling Partner sales channels, building a nationally recognized brand and developing AI-powered digital experiences.
In 2031, the plan is expected to deliver an adjusted profit before tax of $231 million, with earnings per share growing faster than total customer growth, and shareholder distributions of approximately $132 million.
“Today, as well as announcing our full year results for FY26, we are launching our new five-year plan,” said Stuart Burnett, Telecom Plus CEO. “Telecom Plus has built a unique business, helping households by putting all their household bills – energy, mobile, broadband, insurance, on one platform in a multiservice package, saving them time and money. Over the last 30 years we have built a network of 80,000 Partners who introduce this multiservice offering to new customers, typically their friends, family and members of their local community. These multiservice customers are the strongest driver of long-term value, staying with us for longer and generating higher returns and this model has now delivered five consecutive years of record results and more than 1.4 million customers. Today we are detailing how we will be building on our leading position in multiservice customers by investing behind the proven strengths of our model as well as outlining some of the encouraging results from our trial initiatives already underway. Successful delivery of the plan will more than double our multiservice customer base to over 1 million customers by FY31, enhance the quality and resilience of our earnings and result in attractive long-term returns for shareholders.”
