Telecom Plus PLC, also known as Utility Warehouse (UW), issued a trading update for the six months ending September 30, 2026. The company stated that its five-year plan, announced in June, is already delivering “encouraging progress.”
The total number of multiservice organic customers grew 11% year-over-year to approximately 526,000 people, which is ahead of the planned 10% target for the full year 2027. Single service organic customer numbers grew 8.5% to approximately 791,000 people. The company’s enhanced multiservice customer proposition has created momentum in the Partner network, with monthly active Partners during the period averaging 4,900, which represents a 15% increase and is well ahead of the 10% target for full year 2027.
Total Partner numbers increased to 88,000 during the period, up from 77,000 at the end of full year 2026, and a record number of Partners (6,000) attended the Amplify Sales Conference in September. The company’s in-life cross-selling program drove an additional 25,000 core services that were cross-sold during the period, which is on track to reach the target of 50,000 core services cross-sold in full year 2027. Insurance services saw growth during the period for the first time since H1 of full year 2025, and the company announced plans to launch its motor insurance product in H2 of full year 2027.
Brand awareness continues to be an important pillar of the five-year plan and a brand advertising campaign will launch in the third quarter of full year 2027, which will include regional television, radio, out-of-home and hyper-local activations designed to raise the profile of the Partner channel and market position as a multi-utility supplier.
The company reiterated its full year guidance for adjusted profit before tax of between $105 million to $118 million in full year 2027. H1 of full year 2027 adjusted profit before tax is expected to be weighted approximately 15%/85% between H1 and H2 respectively. Year-end net debt to adjusted EBITDA for full year 2027 is expected to be approximately 1.5x before reducing to around 1.0x over the course of the five-year plan.
