[Podcast] TELECOM PLUS With Roland Head And Maynard Paton

04 March 2023
By Maynard Paton

I have recorded another podcast with my good friend Roland Head. This time we talked about Telecom Plus, the FTSE 250 reseller of utilities that appears to be a beneficiary of higher energy bills. We discussed the group’s appealing growth record, upbeat future prospects, unusual marketing approach and dividend income potential: 

We cover:

  • Introducing Telecom Plus, its Utility Warehouse business and the unusual advertising through ‘partners’.
  • Multi-level marketing, ‘pyramid’ partner recruitment and selling multiple services to customers face-to-face.
  • The 12-bagger share price performance and 14% annual dividend growth.
  • Energy hedging, revenue per customer, disappearing competition and a discounted supply deal.
  • Half-year results showing revenue and profit up c50% with customer numbers up 24%.
  • High energy bills, attracting one million new customers and the chance of energy prices falling.
  • OFGEM, customer service, the need for extra staff and the impact on profit margins.
  • Utility Warehouse’s PR and partners enjoying a freebie Maldives holiday.
  • Steve Critchley’s 390,000 Utility Warehouse customers and his sales tactics in the dry cleaners.
  • Founder Charles Wigoder selling shares at the £24 top.
  • AGM protest votes on pay and proposed shareholder meetings on Zoom only.
  • The 4%-plus yield and the prospect of higher income during the next few years.
  • Signing up as a Utility Warehouse customer and anecdotal price comparisons.
  • Our concluding thoughts on the business, future growth and valuation.

Extra links:

Happy listening!

Maynard Paton

PS: The podcast was recorded on 28th February 2023.

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