21st Mar 2016 10:11
LONDON (Alliance News) - Inspired Energy PLC on Monday said its pretax profit and revenue increased in 2015 thanks to robust organic growth and acquisitions, prompting a dividend hike.
Pretax profit for the energy procurement consultant increased to GBP3.5 million in the year to the end of December from GBP3.0 million in 2014, up 17%. This was driven by revenue increasing 40% year-on-year to GBP15.2 million from GBP10.8 million.
The firm will pay a final dividend of 0.25 pence per share, taking its total payout to 0.35p, up 40% year-on-year.
Inspired Energy said its organic growth in 2015 was robust, with its procurement order book increasing to GBP24.5 million from GBP14.0 million, a 75% rise. This excludes the contributions from Wholesale Power UK and STC Energy & Carbon Holdings, which it acquired over the course of the year to boost its corporate division.
Client retention across the business was 85%, with a very strong performance in its risk management unit and with a good showing for small and medium-sized business clients.
Janet Thornton, Inspired Energy's chief executive, said the momentum has continued in the first months of 2015, with the group's order book growing further, giving it confidence in its outlook for 2016.
Inspired Energy shares were up 1.2% to 14.30p Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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