Source: Sharecast
Shares in Telecom Plus plunged by a quarter on Tuesday as the utilities provider said it expected earnings next fiscal year to be lower and halved its dividend as it launched an ambitious five-year plan to more than double multi-service customer numbers to one million.
The company, which trades as Utility Warehouse offering product bundles, reported a 4.7% rise in adjusted pre-tax profit to £132.2m in the year to March 31.
Adjusted 2026/27 profit is expected to be in the range of £80m to £90m, reflecting the plan's first year of investment with a target of £175m by 2031. The total dividend was cut to 50p from 94p.
The company, which also announced a £40 share buyback, said the new strategy “builds on our differentiated business model and will require c.£55m per annum of P&L investment.
“Increasing both the number and proportion of multiservice customers - who have market-leading lifetimes and generate higher annual contributions - will result in higher quality, compounding earnings,” it added.
Raspberry Pi, which makes high-performance, low-cost single-board computers (SBCs), microcontrollers, and computing accessories, suffered heavy losses in line with the tech sell-off in the US.
Hochschild Mining fell in line with a weaker gold price.
FTSE 250 - Risers
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Applied Nutrition (APN) 299.75p 1.27%
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FTSE 250 - Fallers
Telecom Plus (TEP) 711.00p -25.42%
Raspberry PI Holdings (RPI) 769.25p -13.06%
Ceres Power Holdings (CWR) 613.50p -9.16%
Hochschild Mining (HOC) 510.50p -7.10%
Pacific Horizon Inv Trust (PHI) 1,164.00p -7.03%
Seraphim Space Investment Trust (SSIT) 181.00p -6.01%
The Schiehallion Fund Limited NPV (MNTN) 1.99p -5.92%
Templeton Emerging Markets Inv Trust (TEM) 329.50p -5.86%
Rosebank Industries NPV (ROSE) 315.50p -5.39%
Pan African Resources (PAF) 103.70p -4.95%