Report and Accounts
Year ended 31 March 2021
Contents
Strategic Report
Financial and Operating Highlights | 1 |
Our Approach | 3 |
Our Services | 4 |
Chairman's Statement | 6 |
Chief Executive's Review | 10 |
• Business model | 10 |
• Our markets | 11 |
• Strategy | 13 |
• Operational performance and non-financial KPIs | 14 |
Financial Review | 20 |
Principal Risks and Uncertainties | 22 |
People and Organisation | 28 |
Sustainability Report | 32 |
Governance Reports
Board of Directors | 41 |
Corporate Governance Statement | 44 |
Nomination Committee Report | 49 |
Audit Committee Report | 50 |
Directors' Remuneration Report | 53 |
Directors' Report | 73 |
Directors' Responsibilities | 77 |
Financial Statements
Independent Auditor's Report | 79 |
Financial Statements | 88 |
Notes to the Financial Statements | 94 |
Shareholder Information | 127 |
Revenue
increase | on | 2015 | |||||
18% | |||||||
£875 | £861 | ||||||
2m.£729 | 7m.£744 | 3m.£740 | 9m.£792 | 4m£804. | 8M. | 2m. | |
2015 2016 2017 2018 2019 2020 2021
Adjusted pretax profit*
increase | on | 2015 | |||||
21% | |||||||
2m.£46 | 8m.£48 | 3m.£53 | 3m.£54 | 3m.£56 | 8m.£60 | 1m.£56 | |
2015 2016 2017 2018 2019 2020 2021
Services provided
increase | on | 2015 | |||||
32% | |||||||
1,639,558 | 1,709,495 | 1,748,124 | 1,901,319 | 2,022,706 | 2,073,797 | ||
1,570,759 | |||||||
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
- Revenue of £861.2 million (2020: £875.8m)
- Adjusted pre-tax profit* of £56.1 million (2020: £60.8m)
- Statutory pre-tax profit of £43.5 million (2020: £48.1m)
- Adjusted EPS* of 57.4p (2020: 61.8p)
- Statutory EPS of 41.5p (2020: 45.9p)
- Full year dividend maintained at 57p
- Continued growth in both customers and Partners
- Number of services supplied up 2.5%
- Resilient performance across all aspects of the business despite covid challenges
- Good progress in digital transformation project
- Which? Utilities Brand of the Year 2020
*Adjusted pre-tax profit (£56.1m) and Adjusted EPS exclude share incentive scheme charges (£1.4m) and amortisation of the energy supply contract intangible asset (£11.2m). The reconciliation for adjusted EPS is set out in note 18 of the financial statements.
Report Strategic
Reports Governance
Statements Financial
Information Shareholder
Telecom Plus Plc Report and Accounts 2021 / 1
Strategic
Report
Our Approach
Everything you need in one
We bundle together all your home services - energy, broadband, mobile and insurance - into one, great value, monthly bill. And thanks to our inherent economies of scale one set of overheads, multiple revenue streams - the more services our customers take, the more they save.
Our green initiatives
Our green fixed tariff means customers who take all of our services can run their homes on 100% certified renewable electricity. We also plant a tree for every new customer who switches all their services to UW. What's more, our free LED light bulb offer helps to reduce our customers' electricity consumption.
All your home services in one
Our Partner model
Unlike other suppliers, we don't acquire our customers directly. Instead, we have a network of 48,000 self- employed distributors - our Partners - who recommend our services to family, friends and people they know. This word-of-mouth model is at the very heart of our business and has helped us to save time and money for our growing customer base, currently 657,000 strong.
Report Strategic
Reports Governance
Statements Financial
Information Shareholder
Which? Recommended Provider for over 10 years running
Now with more than 30 Which? awards over 14 years, including the only company to have won Which? 'Utilities Brand of the Year' twice, most recently in 2020.
Telecom Plus Plc Report and Accounts 2021 / 3
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Telecom Plus plc published this content on 23 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2021 12:06:00 UTC.