Telecom Plus PLC (TEP) AGM 2017

Yesterday I attended the Annual General Meeting of Telecom Plus PLC at their head office in North London. Telecom Plus which trades as “The Utility Warehouse” provides a complete range of utility services – gas, electricity, broadband, fixed line and mobile phones via a “club” concept promoted by a network of self-employed (mainly part-time) distributors.
Some highlights of the year ending 31st March 2017 are as follows:
Revenue down 0.6%
Statutory pre-tax profit up 16.5% to £40.9 million
Full year dividend up 4.3% to 48p
Over 600,000 members.
We started promptly at midday with 12 ordinary shareholders present with an introduction from Executive Chairman Charles Wigoder of the other board members. We launched straight into the formal business of the meeting with….

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