Telecom Plus reported record profits and a 23% increase in total customers for the full year 2026, driven in part by the acquisition of 193,000 broadband customers from TalkTalk. Adjusted profit before tax came in at the lower end of guidance at 132 million pounds due to an unseasonably warm winter reducing household energy consumption. The company increased total cash distributions to shareholders with a total dividend of 50 pence and a share buyback of 40 million pounds, while maintaining a low net debt to EBITDA ratio of 0.9 times. Customer churn rose slightly to 14.2% amid competitive pressures, and the bad debt charge increased to 2.1% of sales. Telecom Plus also unveiled a new five-year plan aiming to double its multi-service customers to more than one million by 2031.
Telecom Plus PLCRecord profits, increased dividends and share buyback, and new five-year plan to double customers.
Telecom Plus acquired 193,000 broadband customers from TalkTalk, indicating TalkTalk lost customers.