Telecom Plus
{{short description|British utility company}}
{{Use British English|date=October 2022}}
{{Use dmy dates|date=October 2022}}
{{Infobox company
| name = Telecom Plus plc
| logo = Telecom Plus logo (2020).svg
| type = Public
| traded_as = {{ubl|{{LSE|TEP}}|FTSE 250 component}}
| foundation = {{Start date and age|1996}}
| location = London
| key_people = Charles Wigoder (Executive Chairman)
Andrew Lindsay (Co-CEO)
Stuart Burnett (Co-CEO)
| industry = Public utility
| products = Landline telephony, mobile telephony, broadband, gas, electricity.
| revenue = {{decrease}} £2,039.1 million (2024){{cite web|url=https://s3.eu-west-1.amazonaws.com/pdf.utilitywarehouse.co.uk/Telecom_Plus_PLC_Annual_Report_2024_FINAL.pdf|title=Annual Results 2024|publisher=Telecom Plus|access-date=10 February 2025}}
| operating_income = {{increase}} £106.3 million (2024)
| net_income = {{increase}} £71.0 million (2024)
| num_employees = 2,493 (2024)
| subsid = {{Unbulletedlist |Telecommunications Management Limited | Utility Warehouse Limited}}
| homepage = {{Official URL}}
}}
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.{{cite news|url=http://www.timesonline.co.uk/richlist/person/0,,34241,00.html|archive-url=https://web.archive.org/web/20110522160308/http://www.timesonline.co.uk/richlist/person/0,,34241,00.html|title=Sunday Times - Rich List|archive-date=22 May 2011|work=The Times|access-date=3 April 2015}}
In 2017 the company sold its 20% stake in Opus Energy to Drax Group.{{cite web|url=https://agileenergy.net/telecom-plus-sells-stake-in-energy-business-to-drax-group-for-71m/ |title=Telecom Plus sells stake in energy business to Drax Group for £71m - Agile Energy Recovery Ltd |publisher=Agileenergy.net |date=2017-02-10 |access-date=2018-03-01}}
In October 2023, the company had over 949,000 customers.{{Cite news | date=11 October 2023 |title=Trading update and notice of results|publisher= Telecom Plus|language=en|url=https://otp.tools.investis.com/clients/uk/telecom_plus/rns/regulatory-story.aspx?cid=2653&newsid=1724393 }}
Key people
Andrew Lindsay, a world-class rower who was a member of the gold medallist British team at the 2000 Olympics,{{Cite news |date=2 July 2012 |title=Golden Scots: Andrew Lindsay, businessman in a boat |language=en-GB |work=BBC Sport: Scotland |url=https://www.bbc.com/sport/scotland/18402044 |access-date=2023-11-24}} joined Telecom Plus in 2007. He was the chief operating officer in 2009{{Cite web |date=31 March 2009 |title=Telecom Plus Plc: Report and Accounts |url=https://find-and-update.company-information.service.gov.uk/company/03263464 |access-date=24 November 2023 |website=Companies House |page=1}} and was promoted to chief executive officer in July 2010.{{Cite web |date=31 March 2011 |title=Telecom Plus Plc: Report And Accounts |url=https://find-and-update.company-information.service.gov.uk/company/03263464 |access-date=24 November 2023 |website=Companies House |pages=2, 34}} 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.{{Cite web |last=Jackson |first=Mark |date=2023-11-21 |title=Utility Warehouse Top 363,595 UK Broadband Users and Change CEO |url=https://www.ispreview.co.uk/index.php/2023/11/utility-warehouse-top-363595-uk-broadband-users-and-change-ceo.html |access-date=2023-11-24 |website=ISPreview UK |language=en}}
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{{cite news |last=Macalister |first=Terry |author2=Jennifer Rankin |date=20 November 2013 |title=RWE npower supply sale raises fears over UK withdrawal |newspaper=The Guardian |url=https://www.theguardian.com/business/2013/nov/20/npower-gas-electricity-utility-warehouse |access-date=6 October 2014}} and offers home insurance.{{Cite web |title=Insurance from UW |url=https://uw.co.uk/services/insurance |access-date=2023-04-10 |website=uw.co.uk}} 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.{{Cite web |title=UW Cashback Card |url=https://uw.co.uk/services/cashback-card |access-date=2023-04-10 |website=uw.co.uk}} The cards are operated by Mastercard and issued by PSI-Pay Ltd, a privately-held company.{{Cite web |title=PSI-Pay Ltd |url=https://find-and-update.company-information.service.gov.uk/company/05899168 |access-date=10 April 2023 |website=Companies House}}
- Telecommunications Management Limited provides a landline telephony service to small and medium-sized enterprise (SME) customers,{{cite web|url=http://www.tmleurope.com/about.taf|title=TML - About us|access-date=14 April 2016}} as well as operating the 1pMobile consumer MVNO.{{cite web|url=https://www.1pmobile.com/|title=1p mobile|access-date=1 March 2018}}
The company uses a multi-level marketing model to recruit customers and distributors.{{cite news|last1=Jones|first1=Rupert|title=Utility Warehouse under the spotlight|url=https://www.theguardian.com/money/2009/dec/05/utility-warehouse-telecom-plus-distributor|access-date=30 June 2016|work=The Guardian|date=4 December 2009}}
References
{{reflist|30em}}
External links
- {{official}}
{{Navboxes|list1=
{{FTSE 250 Index constituents}}
{{Energy in the United Kingdom|companies}}
{{Telecommunications industry in the United Kingdom}}
{{UK mobile phone companies}}
{{Multi-level marketing}}
}}
{{Authority control}}
Category:Telecommunications companies of the United Kingdom
Category:Companies based in the London Borough of Barnet
Category:Telecommunications companies established in 1996
Category:Electric power companies of the United Kingdom
Category:Utilities of the United Kingdom
Category:Multi-level marketing companies