384,890 Customers Take Utility Warehouse’s UK Broadband Services

Energy and communications provider Telecom Plus, which trades as Utility Warehouse (UW), has today published their latest Half Year Results (H1 2025) to 30th Sept 2024 and revealed that their broadband ISP grew its total UK customer base to 384,890 (up by 10.09k since H2 2024) and their mobile base hit 526,167 (up by 59.95k).

The company is currently home to a total of 1,078,318 residential and small business customers (up from 1,011,489) across their various services and have previously set their sights on “doubling in size to two million customers … over the medium term“ (here). Most of these users take UW’s residential energy services, but they also offer broadband, mobile, insurance, cashback cards and some legacy services too.

The latest results also reveal that 60% of their new customers are enjoying the benefits of Full Fibre broadband and are planning to introduce a new VoIP (Voice over Internet Protocol) based home phone service in the “coming months“, which seems likely to be very similar to the Digital Voice/Phone products that other major ISPs already sell.

In addition, UW say they’ve recently “strengthened our relationship with CityFibre” by launching a 6-month free ‘Try before you Buy’ offer” on their FTTP broadband services. Meanwhile, on the financial front, the operator saw total revenues shrink again to £697.8m (H1 2024: £883.6m) – mostly due to falls in retail energy prices, while gross profit was up 1.7% to £167.8m (H1 2024: £165.0m).

Stuart Burnett, CEO, said:

“We are pleased to see continuing double digit compound growth in customer numbers for the third consecutive year, by continuing to help households to stop wasting time and money. Our unique multiservice model means we can continue to provide market-leading savings, and sustainably outcompete, in a wide range of market conditions. With a new, market-leading EV charging tariff and full fibre broadband offering, our Partners have even more ways to help their friends and family to save, whilst building a valuable long-term additional income for themselves.

A combination of improved efficiency and the strength of our multiservice model led to a 5.5% increase in adjusted profit before tax, notwithstanding lower revenues in the period as a result of falling energy prices.

The tax rises introduced in the recent Budget are expected to increase the pressures on household budgets, an environment in which the savings and earnings provided by our business model are likely to be in growing demand. We look forward to helping more and more people up and down the country as we take further strides towards doubling the business to 2 million customers and beyond.”