The Telecom Plus plc Board is proposing to increase the interim dividend to 37p (2023: 36.0p), with the full year dividend payout expected to increase by at least 13% to 94p as a result of their updated policy and their restated financial guidance.
Other financial highlights include:
● Revenues of £697.8m (H1 FY24: £883.6m) due to lower retail energy prices
● Gross profit up 1.7% to £167.8m (H1 FY24: £165.0m)
● Adjusted profit before taxation up 5.5% to £46.1m (H1 FY24: £43.7m)
● Adjusted EPS up 12.4% to 43.6p (H1 FY24: 38.8p)
● Statutory profit before taxation up 9.2% to £39.0m (H1 FY24: £35.7m)
● Statutory EPS up 19.0% to 35.1p (H1 FY24: 29.5p)
● Underlying net debt to EBITDA ratio of 0.8x (FY24: 0.9x) on a 12-month rolling basis
