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.
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| Company type | Public |
|---|---|
| ISIN | GB0008794710  |
| Industry | Public utility |
| Founded | 1996 |
| Headquarters | London |
Key people | Charles Wigoder (Executive Chairman) Andrew Lindsay (Co-CEO) Stuart Burnett (Co-CEO) |
| Products | Landline telephony, mobile telephony, broadband, gas, electricity. |
| Revenue |  £2,475.2 million (2023)[1] |
| £85.9 million (2023)[1] | |
| £68.2 million (2023)[1] | |
Number of employees | 2,352 (2023)[1] |
| Subsidiaries |
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| Website | telecomplus |
History
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
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
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]