Telecom Plus (LON:TEP) Drops 26% After £55 Million Growth Spend Cuts Profit, Dividend
Telecom Plus shares plunged 26% after the company warned of a sharp profit drop for next year, citing a five-year investment plan. The firm cut its final dividend to 12p from 57p, but announced a £40 million buyback. Adjusted pretax profit guidance for 2027 was slashed to £80–90 million, down from £132.2 million just reported. Net debt is expected to rise as the company targets long-term growth.