#Telecom Plus#Utility Warehouse#direct selling#trading update#UK#earnings guidance

Telecom Plus Reports Customer and Partner Growth in Half-Year Trading Update

The UK multi-utility direct seller, known to consumers as Utility Warehouse, says execution of the five-year plan announced in June is tracking in line with its stated targets. The update covers the six-month period ending 30 September 2026 and reiterates full-year guidance.

October 10, 2026AI-generated content·2 min read

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Customer numbers rise across both segments

Telecom Plus PLC, which trades as Utility Warehouse (UW), has issued a trading update for the half-year period ending 30 September 2026. According to the company, implementation of the five-year plan it announced in June is so far progressing in line with the goals it set out.

Organic multiservice customer numbers grew 11% year on year to approximately 526,000, exceeding the 10% target the company had set for the 2027 financial year. Organic single-service customer numbers rose 8.5% to roughly 791,000.

A cross-selling programme aimed at existing customers delivered an additional 25,000 service sales during the half, which the company said is consistent with the 50,000 target set for the 2027 financial year.

Partner base expands, conference draws record attendance

The average monthly number of active partners during the half-year stood at 4,900, a 15% increase and ahead of the 10% target set for the 2027 financial year. The total partner count grew to 88,000 over the course of the half, compared with 77,000 recorded at the end of the 2026 financial year.

A record 6,000 partners attended the Amplify Sales Conference in September, according to the update.

Insurance returns to growth; brand campaign planned

In insurance services, the company reported growth for the first time since the first half of the 2025 financial year. Telecom Plus also announced it intends to launch a motor insurance product in the second half of the 2027 financial year.

Raising brand awareness is described as a key pillar of the five-year plan. The company will launch a brand advertising campaign in the third quarter of the 2027 financial year, incorporating regional television, radio, out-of-home and hyper-local activations.

Guidance and balance sheet

Telecom Plus reaffirmed its previously issued guidance for the 2027 financial year, with adjusted profit before tax expected in the range of $105 million to $118 million. The company indicated that first-half adjusted profit before tax is expected to account for approximately 15% of the full-year figure, with the remaining 85% anticipated in the second half.

By the end of the 2027 financial year, the ratio of net debt to adjusted EBITDA is expected to stand at approximately 1.5 times, with the company signalling a gradual reduction toward 1.0 times over the course of the five-year plan.