Trading as Utility Warehouse — the UK’s only multiservice platform
Telecom Plus is a unique UK multi-service provider with a purpose: to stop households wasting time and money on essential services. We have partnerships with leading suppliers of energy, broadband, mobile and insurance, and a high quality customer base. This leads to a high growth, predictable, capital-light and cash generative business model supporting a clear capital allocation policy of high returns through dividends supplemented by share buybacks.
A business model like no other
Our customer offer is communicated by word-of-mouth, through a network of over 88,000 independent Partners that we have built up over three decades. This route to market sets us apart from traditional competitors, with our Partners introducing Utility Warehouse to their friends, family, and wider local communities. This brings in loyal homeowners who take multiple services, saving them money and so staying with us for longer. These are highly valued customers that other suppliers struggle to reach.
This route to market also keeps our cost of getting new customers exceptionally low, while giving our Partners a reliable way to earn an extra income.
A built-in cost advantage
Because we run multiple home services over a single overhead, we have a structural cost advantage over single-service competitors. This allows us to offer lower prices to our multiservice customers, stay consistently profitable, and reinvest into the business to strengthen our competitive lead and drive strong growth.
Capital-light and protected
- Long-term contracts:We have major energy supply agreements in place - including our partnership with E.ON through to 2033 – largely insulating us from market price and volume risks.
- No heavy infrastructure:We don't own expensive upstream networks, keeping our capital requirements light.
- Solid balance sheet: Our business maintains low debt and strong financial flexibility.
Focused on high-value, long-term growth
In June 2026, we launched our five-year plan to double our multiservice customer base to over 1 million by FY31.
To achieve this, we are reinvesting around £55 million a year across four clear focus areas:
- Making our multiservice offer even better: Investing in competitive pricing, building insurance into our core offering, and relaunching our business service.
- Growing our Partner network: Expanding our sales channel to attract more multi-service customers.
- Building a household brand: Making Utility Warehouse a nationally recognised and trusted name.
- Digital and AI innovation: Delivering a top-tier digital experience that keeps our cost to serve market-leading.
This plan is built to generate high-quality, recurring earnings, targeting an adjusted profit before tax of £175m by FY31.
A proven track record of strong shareholder returns
We have a 30-year history of profitable growth, achieving an 18.7% compound annual growth rate in adjusted profit before tax over the last 5 years.
Our business model generates strong cash flow, and we are committed to returning 80% of adjusted profit after tax to our shareholders through dividends and share buybacks.