Page 1

RNS Number : 8374Q Telecom Plus PLC 17 August 2026 TelecomPlus 17 August 2026 Telecom Plus PLC AGM Trading Update Encouraging start to five - year growth strategy ; Multiservice customer growth running at 2.5x FY26 rate ; Partner network at record activity levels Telecom Plus PLC ( trading as Utility Warehouse ) , the UK's only integrated platform for subscription - style essential household services , is holding its Annual General Meeting today , at which it will provide the following update on trading . Our new five - year plan , which we announced on 23 June 2026 , has made an encouraging start . • • • In the first four months of FY27 ( April to July ) , annualised multiservice customer growth is running slightly ahead of our 10 % target for the full year , and more than 2.5x the multiservice customer growth rate of 3.9 % achieved in FY26 . Momentum in our Partner network is continuing to build , driven by our enhanced multiservice customer proposition : The number of active Partners is running at record levels , with an average of c.4.9k monthly active Partners during the first four months of FY27 , up from c.4.2k in the second half of FY26 . New Partner recruitment is also performing strongly , with total Partner numbers increasing to over 85k as at the end of July , up from around 77k at the end of FY26 . Our September Partner sales conference in Birmingham is on track to achieve a record level of attendance , with over 5,500 bookings received to date . We have begun to ramp up our in - life cross - selling activity with c.17,000 core services cross - sold in the first four months of the year , putting us on track to deliver our target of 50,000 core services cross - sold for FY27 . Our insurance re - platforming onto OpenGI is progressing well , and we remain on track to launch motor insurance to our customers in H2 of FY27 . • Alongside our role as ' Utilities Partner ' for the football National League , our pilot ' Post Office Plus ' partnership with the Post Office is now live . • Our new brand campaign , including TV , radio , ' out of home ' and hyper local activations , is on track for launch early in Q3 . • Our digitalisation programme is progressing at pace and we are seeing the proportion of customer interactions which are managed digitally , with no human intervention , steadily increasing . Following this encouraging early progress , we reiterate our full year guidance for adjusted profit before tax of between £ 80m to £ 90m for FY27 . As outlined at our strategy update on 23 June , the phasing of the investment programme will increase the weighting of profitability towards the second half of the financial year , with adjusted profit before tax expected to be split approximately 15 % / 85 % between H1 and H2 respectively in FY27 , compared with around 25 % / 75 % last year . Full year net debt to adjusted EBITDA is expected to peak at around 1.5x during FY27 before reducing to around 1x over the course of the five - year plan . Alongside the final dividend for FY26 of 12p per share , which will be paid on 28 August to shareholders on the register at 7 August 2026 , our £ 40m share buyback programme has so far resulted in c.2.44m shares being bought back as at 14 August 2026 at an average price of 818.66p , with £ 20m remaining to be deployed over the coming months . We will announce details of the interim dividend for FY27 , together with an expected extension of the share buyback programme , alongside our half year results in November . Chairman , Charles Wigoder , commented : " We have made an encouraging start to FY27 , with early momentum from our new five - year plan clearly visible across the business . Multiservice customer growth is tracking ahead of our FY27 target , driven by the initial investments we have made in our customer proposition and the resulting strong performance of our Partner network , where both activity and recruitment are running at record levels . As we continue our targeted investments in our customer proposition , Partner network , brand awareness and digitalisation , we are building robust foundations for sustained double - digit percentage growth in multiservice customers and high quality earnings . Execution across all operational areas is progressing at pace , and we remain confident in meeting our guidance for FY27 and on track to deliver on our long - term goal of £ 175 million of adjusted profit before tax by FY31 . "