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Telecom Plus

From Wikipedia, the free encyclopedia
British utility company

Telecom Plus plc
Company typePublic
ISINGB0008794710 Edit this on Wikidata
IndustryPublic utility
Founded1996; 29 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.
RevenueDecrease£2,039.1 million (2024)[1]
Increase£106.3 million (2024)[1]
Increase£71.0 million (2024)[1]
Number of employees
2,493 (2024)[1]
Subsidiaries
  • Telecommunications Management Limited
  • Utility Warehouse Limited
Websitetelecomplus.co.ukEdit this at Wikidata

Telecom Plus plc is a Britishmulti-utility supplier of gas, electricity, home insurance, and landline, broadband and mobile services to residences and businesses. It is listed on theLondon Stock Exchange and is a constituent of theFTSE 250 Index.

History

[edit]

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 inOpus Energy toDrax Group.[3]

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

Key people

[edit]

Andrew Lindsay, a world-class rower who was a member of the gold medallist British team at the2000 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

[edit]

The company has two subsidiaries:

  • Utility Warehouse (branded as UW) operates alandline telephony service, mobile telephony (as anMVNO on theEE network), supplies broadband, gas and electricity[9] and offers home insurance.[10] UW also offers apre-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 byMastercard 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 the1pMobile consumer MVNO.[14]

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

References

[edit]
  1. ^abcd"Annual Results 2024"(PDF). Telecom Plus. Retrieved10 February 2025.
  2. ^"Sunday Times - Rich List".The Times. Archived fromthe original on 22 May 2011. Retrieved3 April 2015.
  3. ^"Telecom Plus sells stake in energy business to Drax Group for £71m - Agile Energy Recovery Ltd". Agileenergy.net. 10 February 2017. Retrieved1 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. Retrieved24 November 2023.
  6. ^"Telecom Plus Plc: Report and Accounts".Companies House. 31 March 2009. p. 1. Retrieved24 November 2023.
  7. ^"Telecom Plus Plc: Report And Accounts".Companies House. 31 March 2011. pp. 2, 34. Retrieved24 November 2023.
  8. ^Jackson, Mark (21 November 2023)."Utility Warehouse Top 363,595 UK Broadband Users and Change CEO".ISPreview UK. Retrieved24 November 2023.
  9. ^Macalister, Terry; Jennifer Rankin (20 November 2013)."RWE npower supply sale raises fears over UK withdrawal".The Guardian. Retrieved6 October 2014.
  10. ^"Insurance from UW".uw.co.uk. Retrieved10 April 2023.
  11. ^ab"UW Cashback Card".uw.co.uk. Retrieved10 April 2023.
  12. ^"PSI-Pay Ltd".Companies House. Retrieved10 April 2023.
  13. ^"TML - About us". Retrieved14 April 2016.
  14. ^"1p mobile". Retrieved1 March 2018.
  15. ^Jones, Rupert (4 December 2009)."Utility Warehouse under the spotlight".The Guardian. Retrieved30 June 2016.

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