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Inspired Energy profit rockets after corporate division revenues leap
4th Sep 2019 09:15
(Sharecast News) - Inspired Energy on Wednesday reported a jump in interim profit after its corporate division delivered record revenues.
The energy consultant reported a profit before tax of £3.2m for the six month period ending 30 June, for an increase of 55% when compared to the same point last year, as sales jumped by 33.0% to £21.6m
The corporate division contributed 87% of total revenue and delivered record revenues of £18.7m, up 36% compared to the year before.
Meanwhile, Inspired said the integration of its Inprova acquisition, which it snapped up in December last year, continued to progress to plan after the restructuring of the senior management team, consolidation of four operational offices to two, and the re-alignment of the central support functions into group.
The AIM traded company proposed an interim dividend of 0.22 pence per share, an increase of 16%.
Mark Dickinson, chief executive of Inspired, said: "The group is well placed to deliver another set of record results as we continue to benefit from further organic growth and the net contribution of recent acquisitions. On behalf of the board, I would like to thank all of the Inspired team for their continued hard work and commitment over the past six months."
Analysts from Shore Capital said the "impressive" interim results confirmed the strength of client service provided by Inspired Energy and lent credence to its strategy of controlled organic development and disciplined acquisition activity.
Inspired Energy shares were up 3.97% at 15.70p at 1625 BST.
The energy consultant reported a profit before tax of £3.2m for the six month period ending 30 June, for an increase of 55% when compared to the same point last year, as sales jumped by 33.0% to £21.6m
The corporate division contributed 87% of total revenue and delivered record revenues of £18.7m, up 36% compared to the year before.
Meanwhile, Inspired said the integration of its Inprova acquisition, which it snapped up in December last year, continued to progress to plan after the restructuring of the senior management team, consolidation of four operational offices to two, and the re-alignment of the central support functions into group.
The AIM traded company proposed an interim dividend of 0.22 pence per share, an increase of 16%.
Mark Dickinson, chief executive of Inspired, said: "The group is well placed to deliver another set of record results as we continue to benefit from further organic growth and the net contribution of recent acquisitions. On behalf of the board, I would like to thank all of the Inspired team for their continued hard work and commitment over the past six months."
Analysts from Shore Capital said the "impressive" interim results confirmed the strength of client service provided by Inspired Energy and lent credence to its strategy of controlled organic development and disciplined acquisition activity.
Inspired Energy shares were up 3.97% at 15.70p at 1625 BST.