Telecom Plus

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.

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	£2,039.1 million (2024)[1]
Operating income	£106.3 million (2024)[1]
Net income	£71.0 million (2024)[1]
Number of employees	2,493 (2024)[1]
Subsidiaries	Telecommunications Management Limited Utility Warehouse Limited
Website	telecomplus.co.uk

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]