StockMarketWire.com - Utility service provider Telecom Plus reported a 9.2% rise in first-half profit as it added more customers.

Pre-tax profit for the six months through September rose to £21.1m, up from £19.3m on-year.

Revenue rose 14% to £353m and underlying profit rose 5.9% to £27.5m.

Telecom Plus declared an interim dividend of 27p per share, up 8% on-year.

The company added another 10,267 customers during the period, bringing the total to 645,306.

'Growth during the first half of the financial year saw a continuation of the encouraging performance we achieved during the corresponding period last year, with similar increases in both customer and service numbers,' chief executive Andrew Lindsay said.

'Our competitive position has recently improved following the reduction in the energy price cap from 1 October 2019, which will help drive an acceleration in growth during the second half.'



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