Julian Schild, a Non-Executive Director of Telecom Plus has bought shares in the utility services provider, two weeks after the firm said full year profits are expected to be slightly ahead of market expectations, after it enjoyed a recent acceleration in organic growth.
Schild purchased 10,000 shares at 610.50p each for a total of £61,050, and 5,000 at 612p each for a total of £30,600. The shares are currently trading around the 640p mark.
In February, the group said that customer numbers for the first nine months of its financial year, which runs to the end of March, are ahead by 31,180, and service numbers for the same period are ahead by 151,032. These represent annualised growth rates of 11% and 17% respectively.
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On top of the growth in customer numbers the group is seeing customers taking more services, on average, from the group, with the proportion of new customers who are taking at least four services from the group exceeding 50% in recent weeks. This trend can be expected to drive both higher average revenue per customer and lower churn over the months and years ahead.
Trading in January was solid, with distributor activity levels up sharply in January after a number of initiatives introduced at the end of 2011.
The stock has gained over 36%, or 170.50p in the past year. On Thursday shares rose by 4.48% to 641.00p.
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