When I joined in Telecom plus 1997, I had no idea, where the decision would take me, and the latest results shows that decision was so justified in such a positive way.
Please read on:
Here’s the Telecom plus annual results, posted to the London Stock Exchange today (Wednesday 23 May 2012).
This will confirm the ongoing strength of the business and encourage others to join. There is no time to sit on the fence; this unstoppable train is moving with force. Doubters; GUPTRs and imitators are being swept aside.
For more information about the business opportunity please click here: Future-Biz
· Revenue up 12.6% to £471.5m (2011: £418.8m)
· Profit before tax up 11.8% to £30.7m (2011: £27.5m)
· EPS up 12.3% to 33.8p (2011: 30.1p)
· Full year dividend up 23% to 27p per share (2011: 22p)
· Strong cash generation, with a net inflow of £14.1m (2011: £15.6m outflow)
· Positive year end net cash balance of £0.9m (2011: net debt of £13.1m) after £6.6m purchase of freehold property in period
· Further accelerating organic growth
· Number of services supplied up by 18% (2011: 12%) to 1,381,023
· Customer base now exceeds 415,000 (2011: 371,000)
· Continuing improvement in customer quality
· Doubling in proportion of new customers taking 4 + services
· Lower churn
Overall performance for the year has been extremely encouraging in a number of key respects:
· faster organic growth with service numbers up by 18.0% (2011: 12.1%)
· significant improvement in customer quality – lower churn – lower delinquency – increase in number of services taken
· strong cash generation
Charles Wigoder said: “Our improvement in organic growth has been driven by continuing high levels of confidence amongst our distributors in our brand and financial strength, the good value provided by our services, and our commitment to delivering a consistently first class customer service experience.
We are also benefiting from the continuing difficult economic climate, which makes both our value-based customer proposition and part-time earning opportunity look increasingly attractive against the background of a broader economy where working hours are being cut, wages are being frozen, part-time jobs are less readily available and disposable incomes are under pressure.”