Telecom Plus (TEP): Five-year multiservice growth plan
This situation live
TEP Telecom Plus
23 Jun 2026 · launched; c.£55m annual investment · +28% until the next step
The plan builds on our differentiated business model and will require c.£55m per annum of P&L investment across the following four pillars:
23 Jun 2026 · Plan detailed; first year of investment FY27 · +28% until the next step
We will report progress against the key operating and financial metrics underpinning the plan at each half-year and full-year results announcement.
17 Aug 2026 · Early progress; FY27 guidance reiterated, H2-weighted · −2% since
Our new five-year plan, which we announced on 23 June 2026, has made an encouraging start.
Five-year multiservice growth plan
Early progress; FY27 guidance reiterated, H2-weighted
Next: Half year results with interim dividend and buyback extension
Every step · 3
- 23 Jun 2026 launched; c.£55m annual investment – The plan builds on our differentiated business model and will require c.£55m per annum of P&L investment across the following four pillars: ↗
- 23 Jun 2026 Plan detailed; first year of investment FY27 – We will report progress against the key operating and financial metrics underpinning the plan at each half-year and full-year results announcement. ↗
- 17 Aug 2026 Early progress; FY27 guidance reiterated, H2-weighted – Our new five-year plan, which we announced on 23 June 2026, has made an encouraging start. ↗
What is happening
Telecom Plus: Five-year multiservice growth plan – Early progress; FY27 guidance reiterated, H2-weighted. ['Early progress; FY27 guidance reiterated, H2-weighted']
- Announced
- 23 Jun 2026 · launched; c.£55m annual investment
- Latest
- 17 Aug 2026 · Early progress; FY27 guidance reiterated, H2-weighted
- What it changes
- Early evidence supports the multiservice plan (growth ahead of target, record Partner numbers) but FY27 guidance is only reiterated, with profit heavily H2-weighted (15%/85%), so delivery risk remains.
What comes next
Half year results with interim dividend and buyback extension.
From the company's own announcements. Not investment advice.
Briefing Pro
New to Telecom Plus? Get up to speed in 2 minutes.
What it does, how it got here, what management promised and delivered – written from its own announcements.
Get the TEP briefing →Also at Telecom Plus 1 open
Capital returnBuyback programme – proposed
Upgrade / downgrade cycleH2-weighted profit phasing – FY26 profit at bottom of range · closed
Telecom Plus – company page →