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Telecom Plus

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Telecom Plus plc
Company typePublic
ISINGB0008794710 Edit this on Wikidata
IndustryPublic utility
Founded1996; 28 years ago (1996)
HeadquartersLondon
Key people
Charles Wigoder (Executive Chairman)
Andrew Lindsay (Co-CEO)
Stuart Burnett (Co-CEO)
ProductsLandline telephony, mobile telephony, broadband, gas, electricity.
RevenueIncrease £2,475.2 million (2023)[1]
Increase £85.9 million (2023)[1]
Increase £68.2 million (2023)[1]
Number of employees
2,352 (2023)[1]
Subsidiaries
  • Telecommunications Management Limited
  • Utility Warehouse Limited
Websitetelecomplus.co.uk Edit this at Wikidata

Telecom Plus plc is a British multi-utility supplier of gas, electricity, home insurance, and landline, broadband and mobile services to residences and businesses. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

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The company was founded in 1996 as a telecommunications business. Its first product, launched in 1997, was a least cost call routing 'Smart Box', a gadget that plugs into a phone socket and routes the calls to alternative networks at a cheaper rate than British Telecom.[2]

In 2017 the company sold its 20% stake in Opus Energy to Drax Group.[3]

In October 2023, the company had over 949,000 customers.[4]

Key people

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Andrew Lindsay, a world-class rower who was a member of the gold medallist British team at the 2000 Olympics,[5] joined Telecom Plus in 2007. He was the chief operating officer in 2009[6] and was promoted to chief executive officer in July 2010.[7] Lindsay held the CEO role jointly with Stuart Burnett from 2021, and in 2023 the company announced that Lindsay would step down at the 2024 AGM.[8]

Operations

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The company has two subsidiaries:

  • Utility Warehouse (branded as UW) operates a landline telephony service, mobile telephony (as an MVNO on the EE network), supplies broadband, gas and electricity[9] and offers home insurance.[10] UW also offers a pre-paid debit card which pays a "cashback" percentage on purchases (given as a credit against the monthly bill for other UW services) in return for a monthly fee.[11] The cards are operated by Mastercard and issued by PSI-Pay Ltd,[11] a privately-held company.[12]
  • Telecommunications Management Limited provides a landline telephony service to small and medium-sized enterprise (SME) customers,[13] as well as operating the 1pMobile consumer MVNO.[14]

The company uses a multi-level marketing model to recruit customers and distributors.[15]

References

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  1. ^ a b c d "Annual Results 2023". Telecom Plus. Retrieved 27 June 2023.
  2. ^ "Sunday Times - Rich List". The Times. Archived from the original on 22 May 2011. Retrieved 3 April 2015.
  3. ^ "Telecom Plus sells stake in energy business to Drax Group for £71m - Agile Energy Recovery Ltd". Agileenergy.net. 10 February 2017. Retrieved 1 March 2018.
  4. ^ "Trading update and notice of results". Telecom Plus. 11 October 2023.
  5. ^ "Golden Scots: Andrew Lindsay, businessman in a boat". BBC Sport: Scotland. 2 July 2012. Retrieved 24 November 2023.
  6. ^ "Telecom Plus Plc: Report and Accounts". Companies House. 31 March 2009. p. 1. Retrieved 24 November 2023.
  7. ^ "Telecom Plus Plc: Report And Accounts". Companies House. 31 March 2011. pp. 2, 34. Retrieved 24 November 2023.
  8. ^ Jackson, Mark (21 November 2023). "Utility Warehouse Top 363,595 UK Broadband Users and Change CEO". ISPreview UK. Retrieved 24 November 2023.
  9. ^ Macalister, Terry; Jennifer Rankin (20 November 2013). "RWE npower supply sale raises fears over UK withdrawal". The Guardian. Retrieved 6 October 2014.
  10. ^ "Insurance from UW". uw.co.uk. Retrieved 10 April 2023.
  11. ^ a b "UW Cashback Card". uw.co.uk. Retrieved 10 April 2023.
  12. ^ "PSI-Pay Ltd". Companies House. Retrieved 10 April 2023.
  13. ^ "TML - About us". Retrieved 14 April 2016.
  14. ^ "1p mobile". Retrieved 1 March 2018.
  15. ^ Jones, Rupert (4 December 2009). "Utility Warehouse under the spotlight". The Guardian. Retrieved 30 June 2016.
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