Telecom Plus

Telecom Plus plc

Company type	Public
Traded as	LSE: TEP FTSE 250 component
ISIN	GB0008794710
Industry	Public utility
Founded	1996; 29 years ago (1996)
Headquarters	London
Key people	Charles Wigoder (Executive Chairman) Andrew Lindsay (Co-CEO) Stuart Burnett (Co-CEO)
Products	Landline telephony, mobile telephony, broadband, gas, electricity.
Revenue	£2,475.2 million (2023)^[1]
Operating income	£85.9 million (2023)^[1]
Net income	£68.2 million (2023)^[1]
Number of employees	2,352 (2023)^[1]
Subsidiaries	Telecommunications Management Limited Utility Warehouse Limited
Website	telecomplus.co.uk

Telecom Plus plc is a British multi-utility supplier of gas, electricity, home insurance, and landline, broadband and mobile services to residences and businesses. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The company was founded in 1996 as a telecommunications business. Its first product, launched in 1997, was a least cost call routing 'Smart Box', a gadget that plugs into a phone socket and routes the calls to alternative networks at a cheaper rate than British Telecom.^[2]

In 2017 the company sold its 20% stake in Opus Energy to Drax Group.^[3]

In October 2023, the company had over 949,000 customers.^[4]

Key people

Andrew Lindsay, a world-class rower who was a member of the gold medallist British team at the 2000 Olympics,^[5] joined Telecom Plus in 2007. He was the chief operating officer in 2009^[6] and was promoted to chief executive officer in July 2010.^[7] Lindsay held the CEO role jointly with Stuart Burnett from 2021, and in 2023 the company announced that Lindsay would step down at the 2024 AGM.^[8]

Operations

The company has two subsidiaries:

Utility Warehouse (branded as UW) operates a landline telephony service, mobile telephony (as an MVNO on the EE network), supplies broadband, gas and electricity^[9] and offers home insurance.^[10] UW also offers a pre-paid debit card which pays a "cashback" percentage on purchases (given as a credit against the monthly bill for other UW services) in return for a monthly fee.^[11] The cards are operated by Mastercard and issued by PSI-Pay Ltd,^[11] a privately-held company.^[12]
Telecommunications Management Limited provides a landline telephony service to small and medium-sized enterprise (SME) customers,^[13] as well as operating the 1pMobile consumer MVNO.^[14]

The company uses a multi-level marketing model to recruit customers and distributors.^[15]

References

^ ^a ^b ^c ^d "Annual Results 2023". Telecom Plus. Retrieved 27 June 2023.
^ "Sunday Times - Rich List". The Times. Archived from the original on 22 May 2011. Retrieved 3 April 2015.
^ "Telecom Plus sells stake in energy business to Drax Group for £71m - Agile Energy Recovery Ltd". Agileenergy.net. 10 February 2017. Retrieved 1 March 2018.
^ "Trading update and notice of results". Telecom Plus. 11 October 2023.
^ "Golden Scots: Andrew Lindsay, businessman in a boat". BBC Sport: Scotland. 2 July 2012. Retrieved 24 November 2023.
^ "Telecom Plus Plc: Report and Accounts". Companies House. 31 March 2009. p. 1. Retrieved 24 November 2023.
^ "Telecom Plus Plc: Report And Accounts". Companies House. 31 March 2011. pp. 2, 34. Retrieved 24 November 2023.
^ Jackson, Mark (21 November 2023). "Utility Warehouse Top 363,595 UK Broadband Users and Change CEO". ISPreview UK. Retrieved 24 November 2023.
^ Macalister, Terry; Jennifer Rankin (20 November 2013). "RWE npower supply sale raises fears over UK withdrawal". The Guardian. Retrieved 6 October 2014.
^ "Insurance from UW". uw.co.uk. Retrieved 10 April 2023.
^ ^a ^b "UW Cashback Card". uw.co.uk. Retrieved 10 April 2023.
^ "PSI-Pay Ltd". Companies House. Retrieved 10 April 2023.
^ "TML - About us". Retrieved 14 April 2016.
^ "1p mobile". Retrieved 1 March 2018.
^ Jones, Rupert (4 December 2009). "Utility Warehouse under the spotlight". The Guardian. Retrieved 30 June 2016.

External links

Official website

Links to related articles

FTSE 100 ← FTSE 250 companies of the United Kingdom → FTSE SmallCap

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Category

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v t e Multi-level marketing companies
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In Utah	ASEA doTerra LifeVantage Corporation Morinda, Inc. Nature's Sunshine Products Nu Skin Enterprises Protandim Sunrider Usana Health Sciences Young Living Younique
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