Telecom Plus PLC released its half-year results for the period ending September 30, 2022, reporting a 51.5% increase to $668 million, up from $441 million during the same period of 2021. Adjusted profit before tax was up 22.5% to $38.1 million. The company also experienced record growth, with an annualized customer growth rate of almost 24%.
Net customer growth remains at record levels for the company and partner recruitment continues to increase, which the company attributes to a cost-of-living crisis.
“As the pressures on household budgets mount, we continue to offer UK families what they want: the lowest priced energy on the market, savings on their mobile, broadband and insurance bills, cashback on their daily spend, and additional earnings for recommending UW to their friends and families,” said Andrew Lindsay, Telecom Plus Co-CEO. “The business is growing faster than ever, at an annualized rate of almost 24%. With inflationary pressures showing no signs of easing, we expect demand for what we offer to remain high, supporting our progress towards our target of welcoming an additional one million customers in the next four to five years.”