13th Jul 2021 14:43
eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Swings to a maiden annual pretax profit of GBP100,000 from a GBP1.9 million loss the year before. Revenue for the year ended June 30 triples to GBP13.5 million compared to GBP4.5 million the previous year. eEnergy hails the "transformational year", with trading for the period in line with market expectations.
"Whilst the last year has been tough for all businesses, I am very pleased with the significant progress we have made during our first full year as a public company," comments Harvey Sinclair, chief executive.
"I am proud that we have been able to post our maiden full year profit and deliver organic growth of 75%. This provides an excellent platform for continued material growth in revenue and profit over the medium term."
Looking ahead, eEnergy says it expects revenue and profit before and after tax and before exceptional items for financial year 2022 to be materially ahead of 2021. Revenue for the year is forecast to be materially ahead of current market expectations although pretax profit is predicted to come in 10% below market expectations.
Current stock price: 20.45 pence
Year-to-date change: up 74%
By Will Paige; [email protected]
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