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Telecom Plus

December 2012

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.

  • Epic Code:
  • TEP
  • Price:
  • 875p
Results for H1 held few surprises. Overall, sales were up by a third to £210m, pretax profit was up 9% to £12.1m and eps improved by 10% to 13.5p. Telecom Plus has no need to retain any of the tidal wave of cash it is generating and the interim dividend goes up a massive 30% to 13p (whilst it confirmed the H2 dividend will be 18p).The performance was driven by a combination of its expanding customer base (22,657 new additions to take the total to 438,146); lower bad debts and a reduced churn arising from the previous strategy to target homeowners rather than tenanted properties. Quality of earnings continues to rise with over 55% of new customers joining taking at least four major services - 37% of the customer base now t ...

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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.

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