Telecom Plus (LON:TEP) Drops 26% After £55 Million Growth Spend Cuts Profit, Dividend
Telecom Plus PLC dropped about 26% on Tuesday after the Utility Warehouse parent flagged a steep profit fall for next year as it plans a five-year investment push. Shares last changed hands at 709 pence at 15:02 BST, off 25.8% on the day and down about 47% on the year. Telecom Plus surprised investors with its new guidance. The company now sees adjusted pretax profit in a range of £80 million to £90 million for the year ending March 2027. That's down from the £132.2 million just reported, as Telecom Plus plans to spend about £55 million a year on pricing, marketing, insurance and technology.