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Telecom Plus

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British utility company

Telecom Plus plc
[REDACTED]
Company typePublic
Traded as
ISINGB0008794710 Edit this on Wikidata
IndustryPublic utility
Founded1996; 29 years ago (1996)
HeadquartersLondon
Key peopleCharles Wigoder (Executive Chairman)
Andrew Lindsay (Co-CEO)
Stuart Burnett (Co-CEO)
ProductsLandline telephony, mobile telephony, broadband, gas, electricity.
RevenueIncrease £2,475.2 million (2023)
Operating incomeIncrease £85.9 million (2023)
Net incomeIncrease £68.2 million (2023)
Number of employees2,352 (2023)
Subsidiaries
  • Telecommunications Management Limited
  • Utility Warehouse Limited
Websitetelecomplus.co.uk Edit this at Wikidata

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.

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

In October 2023, the company had over 949,000 customers.

Key people

Andrew Lindsay, a world-class rower who was a member of the gold medallist British team at the 2000 Olympics, joined Telecom Plus in 2007. He was the chief operating officer in 2009 and was promoted to chief executive officer in July 2010. 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.

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 and offers home insurance. 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. The cards are operated by Mastercard and issued by PSI-Pay Ltd, a privately-held company.
  • Telecommunications Management Limited provides a landline telephony service to small and medium-sized enterprise (SME) customers, as well as operating the 1pMobile consumer MVNO.

The company uses a multi-level marketing model to recruit customers and distributors.

References

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

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