Utility Warehouse Set 5 Year UK Growth Plan as 568,647 Take Broadband

Energy and communications provider Telecom Plus, trading as Utility Warehouse (UW), has today published their latest H2 FY26 Results to the end of March 2026 and revealed that their broadband ISP grew its total UK customer base to 568,647 (up from 561,086 in H1) and their mobile base grew to 787,426 (up from 698,054).

As previously reported, the company’s broadband base got a big boost last year after they took on some of TalkTalk’s broadband customers via Origin Broadband (here and here). The latest results confirm that UW’s broadband service numbers increased by 38.9% to 0.56m in the year (including the 193k customers acquired from TalkTalk). Excluding the impact of the TalkTalk base, broadband service numbers only increased by 3.8% (hence why H2 saw a much smaller increase than H1).

The provider added that they’d so far migrated 160,000 TalkTalk customers onto their systems by year-end, with the remainder expected to migrate by the end of the first quarter of FY27. Initial cross-sell results on this base are said to be “continuing to perform strongly, with 14.5k customers upgraded and cross-sold during the year“.

The results revealed that 74% of new customers are now choosing Full Fibre (FTTP) broadband (up from 65% in H1), reflecting continued demand for higher-speed and more reliable connectivity. The company added that they’re separately continuing to offer customers on the CityFibre network 6 months free service when they join.

We also got an update on their plans for launching a new VoIP (Voice over Internet Protocol) based digital home phone product, which seems to have been delayed from the original H2 FY26 launch window and is now due to launch early in FY27. Finally, on the fixed line side, UW reported having a legacy telephony customer base of 33,071 (up from 20,490 last year, probably due to TalkTalk). On mobile there was also this..

UW’s Mobile Service

Our mobile service numbers increased 28.9% to 0.78m. This strong performance reflects continued demand for our mobile offering and our growing competitiveness in the market.

Over the course of the year, we enhanced both of our core tariffs to deliver even greater value to customers. Our ‘Essential Max’ plan now offers one of the most competitive entry-level propositions in the market at £5 for 10GB of data. In addition, customers benefit from additional SIMs on our Unlimited Max tariff at no extra cost for the first six months.

During the year, we also launched eSIM capability, expanding customer choice and enabling a more seamless and flexible onboarding experience. These improvements, combined with the strength and reliability of EE’s network, have driven sustained momentum in mobile service growth throughout the year.

Overall, across all of their products (inc. energy, insurance, cashback cards, broadband etc.), UW reported having a total services base of 3,803,823 (up from 3,392,593 last year). The company has also announced a new five-year plan to double the number of high-quality, multiservice customers from c.500,000 to more than 1 million by FY31. The plan builds on their differentiated business model and will require c.£55m per annum of P&L investment across the following four pillars:

○ Optimising their multiservice proposition

○ Scaling their Partner sales channel

○ Building a nationally recognised and trusted brand

○ Developing a best-in-class digital experience with market-leading cost to serve.

Stuart Burnett, CEO of Telecom Plus, said:

“Today, as well as announcing our full year results for FY26, we are launching our new five year plan.

Telecom Plus has built a unique business, helping households by putting all their household bills – energy, mobile, broadband, insurance, on one platform in a multiservice package, saving them time and money. Over the last 30 years we have built a network of 80,000 Partners who introduce this multiservice offering to new customers, typically their friends, family and members of their local community. These multiservice customers are the strongest driver of long-term value, staying with us for longer and generating higher returns and this model has now delivered five consecutive years of record results and more than 1.4 million customers.

Today we are detailing how we will be building on our leading position in multiservice customers by investing behind the proven strengths of our model as well as outlining some of the encouraging results from our trial initiatives already underway.

Successful delivery of the plan will more than double our multiservice customer base to over 1 million customers by FY31, enhance the quality and resilience of our earnings and result in attractive long-term returns for shareholders.”

Finally, in terms of the financial side, Telecom Plus ended the year with revenues of £1,941.1m (up 5.6% from £1,838.2m last year) and they made a gross profit of £389.2m (up 8.7% from £358.1m last year).