31st May 2023 10:30
Yu Group PLC - Cheshire, England-based supplier of gas, electricity and water to businesses - Notes continued strong trading momentum in 2023 with key performance indicators of revenue, profitability and cash generation all showing "strong" growth. Says the run rate growth of average monthly booking achieved in the fourth quarter of 2022 has continued into the new year. "Pent-up demand from softening commodity markets has seen an increase in customers contracting with Yu providing additional revenue visibility for FY 2023 and beyond," the company says. Looking ahead, expects revenue, margins and cashflow for 2023 to be substantially ahead of market expectations.
Chief Executive Officer Bobby Kalar says: "I'm delighted to report a further increase in our expectation of revenue, profit and cash, and I'm looking forward to presenting a ninth consecutive half year improvement in our interim results."
Yu recorded pretax profit of GBP5.8 million on revenue of GBP278.6 million for 2022. In the first half alone, pretax profit was GBP5.5 million on GBP129.2 million in revenue.
Current stock price: 587.00 pence each, up 28% on Wednesday in London
12-month change: up from 202.50p
By Xindi Wei, Alliance News reporter
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