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Telecom Plus On Target for the Year

Jill Ralph
July 18, 2012

LONDON -- Telecom Plus (LSE: TEP.L  ) today issued its interim management statement, stating that the encouraging momentum it saw developing last quarter has continued. Despite the positive outlook, shares have opened down slightly today.

Perhaps best known for owning and operating the Utility Warehouse brand, Telecom Plus supplies a wide range of utility services (gas, electricity, fixed line and mobile telephony, and broadband Internet) to residential and business customers throughout the U.K.

Highlights of the statement include strong organic growth, positive cash flow generation and new mobile tariffs. But perhaps most important, the company is showing positive customer acquisition numbers, with overall residential customers increasing during the first quarter by 10,917 (a 50% improvement year over year), while business customers posted a m