Telecom Plus, the Utility Warehouse owner, has kept its full-year adjusted profit before tax guidance at £80 million to £90 million after a first half in which multiservice customer growth ran at more than 11% annualised.
Multiservice organic customers rose to about 526,000 from 498,000 at the end of FY26, ahead of the group's 10%+ target for the year and roughly three times the rate delivered in FY26.
Single-service organic customers grew at an annualised 8.5% to about 791,000, taking total organic customers to around 1.32 million, up at an annualised 9.7%.
The update covers the six months to 30 September and follows the launch of a new five-year plan on 23 June.
Partners and cross-selling
Customers sign up through a network of local Utility Warehouse Partners, who recommend its services to people they know.
Monthly active Partners averaged about 4.9k in the half, up around 15% on the second half of FY26.
Total Partner numbers rose to more than 88,000 from about 77,000 at the end of FY26.
About 6,000 Partners attended the Amplify sales conference in Birmingham in September, where the company unveiled an unlimited mobile offer and a Partner share option scheme.
Cross-selling added about 25,000 core services, keeping the company on track for its financial target of 50,000.
Insurance services returned to growth for the first time since H1 FY25, edging up to about 114,000 from 113,000.
A motor insurance product is still due to launch in the second half of FY27.
Outlook and distributions
Telecom Plus expects adjusted profit before tax to be weighted roughly 15% to the first half and 85% to the second.
It still expects year-end net debt to adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) of around 1.5 times.
Its £40 million share buyback has bought about 3.8 million shares at an average 821.24p, with about £9 million left to deploy.
Chief executive Stuart Burnett said the company was confident of meeting guidance as it works towards its goal of £175 million of adjusted profit before tax by FY31.
First half results are due on 24 November.
