Inspired Energy revenue surges in 2016

30th Jan 2017 12:39

(ShareCast News) - Energy procurement consultant Inspired Energy provided a trading update for the financial year to 31 December on Monday, saying it expected to report results in line with market expectations, which were revised upwards during the year.The AIM-traded company said group revenues are expected to be about 40% ahead of 2015, with adjusted EBITDA 45% ahead of the previous year.It said its procurement corporate order book stood at £28.0m, up from £24.5m at the end of 2015, representing year on year growth of 14%Trading remained strong throughout the year, the board claimed, which was a trend that continued into the start of the new financial year.Following the acquisition of Informed Business Solutions in September 2016, Inspired Energy's net debt was expected to be approximately £10.8m at the year end."Inspired had a very strong 2016 in which the business delivered on its stated growth strategy," said CEO Janet Thornton."I am delighted that we have been able to conclude and integrate all three acquisitions completed over 2015 and 2016 whilst simultaneously delivering on our organic growth targets."We continue to seek out attractive acquisitions and I am confident that 2017 will be another year of positive growth for Inspired."The company's board said it expects to announce its full year results for the year on 27 March.