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(Sharecast News) - Telecom Plus said it expected earnings next fiscal year to be lower as it launched an ambitious five-year plan to more than double multi-service customer numbers to one million.
The company, which trades as Utility Warehouse offering product bundles, reported a 4.7% rise in adjusted pre-tax profit to 132.2m in the year to March 31.
Adjusted 2026/27 profit is expected to be in the range of 80m to 90m, reflecting the plan's first year of investment with a target of 175m by 2031.
The company, which also announced a 40 share buyback, said the new strategy "builds on our differentiated business model and will require c.55m per annum of P&L investment.
"Increasing both the number and proportion of multiservice customers - who have market-leading lifetimes and generate higher annual contributions - will result in higher quality, compounding earnings," it added.
Reporting by Frank Prenesti for Sharecast.com
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