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Telecom Plus

July 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Telecom Plus had an excellent second half, adding a net 18,000 customers during the period (versus 26,000 in H1) and taking its total to 178,000. Statutory turnover, which includes a small element from operating the distributor network, was up 41% to £81.8m. Profit before tax was up 90% to £10.6m and earnings by 79% to 12.2p. Despite its name, Telecom Plus is a virtual multi-utility and provides a range of services (telephony, internet, gas and electricity) at a discount to the prices charged by incumbent operators. The rate of progress is reflected in sales from Telecom Plus' virtual network which were £79m, up from £55m. Operating profit was £13.8m up from £8.4m. The inclusion of lower margin ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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