24th Mar 2014 12:28
LONDON (Alliance News) - Inspired Energy PLC Monday said it doubled its profit in 2013, driven by a 45% increase in revenues during the year, as its number of clients and the value of its order book rose.
The energy procurement and management company said the current year has started well and is ahead of board expectations, with a strong pipeline for the year ahead. Signalling confidence, it proposed a final dividend of 0.12 pence per share, bringing its total dividend for the year to 0.17p, a 55% increase on 2012.
"We look forward to a successful 2014 and the opportunities of building the group organically and through further acquisitions within the sector," said Managing Director Janet Thornton in a statement.
Inspired Energy reported a pretax profit of GBP1.75 million in 2013, up from GBP0.9 million a a year earlier, as revenues rose 45% to GBP7.7 million, up from GBP5.3 million.
It said it booked a record amount of new sales during 2013, which has continued into the new year. Inspired Energy said that in 2013 its order book grew 23% to GBP11 million, from GBP8.9 million in 2012. It said the number of clients increased 32% to 825 in 2013, up from 625 a year earlier.
The group said the order book has increased by a further GBP300,000 since the year end, to GBP11.3 million as at February 28. It said its SME division has also continued to perform strongly.
Shares in Inspired Energy were down 3.9% at 16.09 pence per share Monday midday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Inspired