26th Jan 2021 10:45
Yu Group PLC - supplier of gas, electricity and water to the UK business sector - Says a strong trading performance in 2020 means it expects revenue, cash and profit for the year to beat market expectations, adding its forecast for 2021 is for "significant" revenue growth.
Revenue for 2020 was more than GBP100 million, with adjusted earnings before interest, tax, depreciation, and amortization to be "significantly ahead" of market expectations after a strong performance in the second half, despite the negative impact of the Covid-19 pandemic. Cash at the end of the year was GBP11.7 million, up sharply from GBP2.4 million on the same date in 2019.
Revenue for 2019 was GBP111.6 million and adjusted Ebitda loss was GBP4.2 million.
Total average monthly bookings in the second half of 2020 beat expectations at GBP10.3 million, compared to GBP6.2 million the the first half and GBP4.2 million for the whole of 2019.
Looking ahead, Yu says: For 2021, revenues are expected to be significantly increased, with GBP93 million already contracted and strong organic growth from new bookings set to continue."
Current stock price: 159.50 pence, up 33% on Tuesday
Year-to-date change: up 60%
By Ife Taiwo; [email protected]
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