19th Jun 2019 15:12
(Alliance News) - Inspired Energy PLC said Wednesday it is "confident" heading into the second half following a "strong" first half.
Speaking at the energy procurement consultant's annual general meeting Wednesday, Chair Michael Fletcher said: "I am pleased to report that Inspired Energy has had a strong first half of the year, as the group continues to deliver on its stated growth strategy, trading in line with the board's expectations and further building on a strong 2018."
Inspired Energy said the integration of recent acquisition Inprova Finance Ltd is "progressing well".
At the beginning of December, Inspired Energy acquired rival energy procurement services consultancy Inprova Finance for GBP19.5 million
Inspired said Inprova is performing in line with management expectations. At the time of the acquisition, Inspired Inprova is expected to be earnings enhancing in 2019 and beyond.
"The enlarged platform further underpins the strength of our Corporate division and the benefit we provide clients in order for them to optimise the value of every pound spent on utilities," added Fletcher.
He continued: "We move into the second half with good visibility and confidence of further progress over the remainder of the year. The continued momentum is testament to the strong team we have in place to drive the growth of the group as it moves to the next stage of development."
The company is expected to release its results for the six months to June 30 on September 4.
Shares in Inspired Energy were up 1.7% Wednesday afternoon at 14.80 pence each.
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