Telecom Plus PLC Report and Accounts

Our Story

We grow when happy customers choose to become UW Partners and recommend us to their friends and families.

UW is the UK's only genuine multiservice provider: we bundle energy, broadband, mobile and insurance.

We want people to stop having to think about the cost and hassle of running their home.

Which is why we offer long-term savings on household bills and an experience people never need to switch away from.

Through getting paid for introducing people to UW, our Partners also get to achieve their personal goals.

We now have almost 887,000 customers and are on track to hit our target of helping another one million households to save time and money with us.

Strategic Report

Governance Report

Financial Statements

Shareholder Information

Everything in one

We bundle together all your home services - energy, broadband, mobile and insurance - into one, great value, monthly bill. And the more services our customers take, the more they save.

A structural cost advantage

All your home services in one

Revenue

2017 2018 2019 2020 2021 2022 2023

Services provided

2017 2018 2019 2020 2021 2022 2023

• Revenues increased to £2,475.2 million (2022: £967.4m)
• Adjusted pre-tax profit* up 55.4% to £96.2 million (2022: £61.9m)
• Adjusted EPS* up 57.0% to 99.2p (2022: 63.2p)
• Statutory pre-tax profit up 81.1% to £85.5 million (2022: £47.2m)
• Statutory EPS up 92.0% to 86.6p (2022: 45.1p)
• Full year dividend of 80p (2022: 57p) per share
• Number of customers up 21.7% to 886,579
• Number of services supplied up 23.5% to c. 2.8m
• Sustainable multiservice cost advantage enabled us to save our customers over £30m on their energy bills alone during the year
• Insurance business more than doubled to over 100,000 policies
• Ranked top supplier in Uswitch Energy Awards for 'Best Customer Service' and 'Most Likely to Recommend'; 3rd in Which? Broadband Satisfaction survey
• 25% increase in Partner numbers to almost
  60,000 (2022: 48,000) reflecting ongoing strong interest in our income opportunity as cost of living pressures continue to be felt by UK households

*Adjusted pre-tax profit (£96.2m) and Adjusted EPS exclude share incentive scheme charges (£2.8m), amortisation of the energy supply contract intangible asset (£11.2m), the minority share of Glow Green losses (£0.3m), and the profit on disposal of Glow Green (£3.6m). The reconciliations for adjusted profit before tax and adjusted EPS are set out in notes 1 and 19 respectively of the financial statements.

Strategic Report

Governance Report

Financial Statements

Shareholder Information