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Telecom Plus - Shares move to record high

January 2003

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.

The shares have soared following an excellent set of interims for the six months to 30 September, again illustrating the effect of growth compounding as customer numbers rise and existing customers take more services. Statutory turnover, which includes a small element from operating the distributor network, was up from £14.6m to £25.4m including a four month contribution from TML. However, the real rate of progress is reflected in sales from Telecom Plus' virtual network which was £18.8m and which represented growth of 74% compared to the first half last year. This included £5.4m from TML so growth was 35% on an underlying basis.   Customer growth was particularly buoyant with a net 12,000 customers ...

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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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