Multi-service internet and insurance firm Telecom Plus has passed a million customers on its books – and its boss has eyes on doubling that number in the years ahead.
The FTSE 250 listed company, which provides energy, broadband, mobile and insurance services through one account, made the announcement to markets this morning.
Telecom Plus, which trades as Utility Warehouse, focuses mainly on domestic customers, and said it’s now “helping more than one million households to stop wasting time and money.”
Appealing to Brits by consolidating all their utilities on one account, the firm said in the last 25 years it had “demonstrated its ability to grow its customer base organically in all market conditions, due to the unique combination of its multiservice customer offering and word of mouth route to market.”
“With the return of rational and healthy competition to the energy market, we are confident in our ability to maintain market-leading tariffs across all our services as we set our sights on doubling the size of the business to two million customers.
The firm said it is trading “strongly in line with market expectations” for the rest of the year.
Stuart Burnett, its co-chief said: “We are now helping more than one million households to stop wasting time and money on their household bills, demonstrating the ongoing strength of our unique business model.
“Our sights are now firmly set on doubling the business from one million to two million customers through a combination of the market-leading savings customers receive when they take multiple services from us, and the meaningful additional income partners earn from recommending these savings to their friends and family.”
The energy market has been struggling with higher costs especially since the start of the war in Ukraine, as Ofgem announced a lowering of the price cap last month.
All eyes will be on Jeremy Hunt’s Spring Budget today, with the energy sector hoping for announcements on the windfall tax, home insulation and the cost of heating homes.