Telecom Plus sees FY adj. pretax profit steady

Telecom Plus said its FY adjusted pretax profits from continuing operations, excluding the contribution from its 20% shareholding in Opus Energy Group Ltd, were expected to be about £53m, in line with previous guidance.

"The company's FY results will also include total profit from discontinued operations of c.£65m following the recent sale of our 20% shareholding in Opus (to Drax)," it said of the 12 months to March 31.

"As previously announced, the cash proceeds from the sale of Opus are expected to be returned to shareholders through a £70m tender offer this summer."

Telecom Plus added that customer and service numbers for the full year showed further modest growth, with an encouraging upward trend starting to emerge during Q4.

Total dividend was 48p, from 46p. "Cash flow remains strong, in line with management expectations."

At 9:23am: (LON:TEP) Telecom plus PLC share price was +1.5p at 1245.5p