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Sunday, November 30, 2008

Telecom Plus Profits Up 55%

* Says on target to post record full-year results

* Raises interim dividend 25 pct

* Shares edge higher (Adds details, share movement)

Nov 26 (Reuters) - Telecom Plus Plc (TEP.L: Quote, Profile, Research, Stock Buzz) said on Wednesday its first-half pretax profit rose 55 percent, reflecting a larger customer base and higher retail energy prices.

The bundled utilities provider said it was on target to report record-high revenue and pretax profit for the full year. Telecom Plus, which trades as Utility Warehouse, offers a range of services -- including gas, electricity, fixed line and broadband Internet access -- to both residential and business customers.

The company declared an interim dividend of 5 pence a share, up from 4 pence previously.

It posted a pretax profit of 9.8 million pounds ($15 million) for the six months to Sept. 30, compared with 6.4 million pounds a year earlier, while revenue rose 25 percent to 88.9 million pounds.

Telecom Plus also said it appointed commercial director Andrew Lindsay as chief operating officer, effective immediately. At 0830 GMT, shares of the company were up 1.4 percent at 355 pence on the London Stock Exchange. (Reporting by Srikanth Srinivasa in Bangalore; Editing by Mike Miller)







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