18th Mar 2016 08:43
LONDON (Alliance News) - Renewable electricity company Good Energy Group PLC on Friday said its pretax profit sank in 2015 due to one-off gains not repeating, but revenue increased as its customer numbers rose.
Pretax profit fell to GBP100,000 from GBP1.3 million a year earlier, primarily due to the group having booked a GBP3.4 million one-off profit in 2014 from the sale of the West Raynham solar park. Earnings before interest, taxation, depreciation and amortisation, not including this one-off, rose 28% to GBP7.3 million from GBP5.7 million.
Good Energy's revenue rose 12% to GBP64.3 million from GBP57.6 million, with overall customer numbers rising to 219,400 at the end of 2015 from 152,500 a year before. Electricity customers rose 32%, while gas customers increased 55% in the year.
Good Energy will pay a flat final dividend of 2.3 pence per share, meaning its total payout is also flat at 3.3p.
"Good Energy has seen significant growth during the last 12 months. It has continued to deliver against its strategic business plan - investing in systems and assets, and driving growth across all sectors of its customer base," said Chief Executive Juliet Davenport.
"I'm confident that Good Energy is well placed to continue to deliver on its growth plans, through responding to the needs of the market and adapting to the changes in the energy policy landscape," Davenport added.
Good Energy shares were down 0.3% to 200.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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