18th Jul 2016 06:55
LONDON (Alliance News) - Gas and electricity supplier Yu Group PLC on Monday said trading so far in 2016 leaves it on track to meet market expectations for the full year.
Yu, which floated in London in March, said revenue in the first half to the end of June is set to meet its expectations, with gross margins robust and costs tightly controlled despite the company growing its headcount in the first half.
Bookings for the first six months were up 60% year-on-year, Yu said, providing a boost for the current year and visibility beyond 2016.
"We are delighted with the group's progress over the first half of the year and have delivered on our objectives as envisaged at the time of IPO in March 2016. The business is developing well which, combined with the proceeds from our recent placing, underpins the strong growth potential of the group. I look forward to the future with confidence," said Chief Executive Bobby Kalar.
Yu will publish interim results on September 20.
By Sam Unsted; [email protected]; @SamUAtAlliance
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