30th Jan 2020 17:24
(Alliance News) - Inspired Energy PLC said Thursday it expected to report a rise in earnings for 2019, driven mainly by an "excellent" performance from the UK energy consultant's Corporate division.
For the year, Inspired Energy expects adjusted earnings before interest, taxes, depreciation and amortisation to be 39% higher than GBP13.8 million reported in 2018, on revenue that is set to grow by 50% year-on-year from GBP32.7 million.
The consultant's core Corporate division reported 58% growth in revenue from GBP27.3 million the prior year, contributing 89% of group revenue for 2019 from 84% in 2018.
Inspired Energy's year-end order book stands at GBP57.5 million, up from GBP53.0 million the year before.
Looking ahead, trading has remained strong in the opening weeks of 2020, underpinned by its order book.
"2019 has seen the acceleration of growth for the group, with successful integration of the 2018 acquisitions including Inprova Finance Ltd, completion of the strategically important investment into Ignite and delivery of further complementary and value-enhancing acquisitions. In addition, the group has continued to deliver sustained organic growth," said Chief Executive Officer Mark Dickinson.
"We remain focused on delivering our core financial, operational and strategic objectives, in parallel with broadening the service offering for our clients, to help them to optimise the value of every pound spent on utilities," Dickinson added.
Inspired Energy will publish its annual results on March 31.
Shares in Inspired Energy closed 7.3% lower at 19.1 pence on Thursday in London.
By Dayo Laniyan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Inspired