30th Jan 2014 07:59
LONDON (Alliance News) - Inspired Energy PLC Thursday said its expects its 2013 pretax profit to meet market expectations, while revenues, at GBP7.6 million, will be above expectations, as its corporate unit grew and its new energy business got off to a strong start.
It said revenue growth had been driven by the EnergiSave unit, which did particularly well in the fourth quarter. The unit provides small- and medium-sized businesses with competitive energy contracts from a variety of suppliers.
"The group continued to invest in this division throughout the year and the board expects the investment in EnergiSave in 2013 to result in a more significant contribution to the ongoing growth and profitability of the Group during the current financial year," it said in a trading update.
It added that net debt at the end of 2013 is also expected to be in line with market expectations.
Inspired said current trading remains strong. The contracted order book in its corporate division was GBP11.0 million at the end of December, up from GBP8.9 million a year earlier.
The corporate division made order book sales of GBP8.8 million in 2013, up from GBP7.1 million in 2012. Sales in the EnergiSave division were GBP1.4 million, meaning total committed group sales were more than GBP10.2 million in the year.
By Steve McGrath; [email protected]; @SteveMcGrath1
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