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Inspired Energy sales accelerate in H2
30th Jan 2020 09:39
(Sharecast News) - Energy consultancy Inspired Energy witnessed an acceleration in sales growth during the second half of 2019 after deciding to ramp up investment in order to take advantage of opportunities in optimisation services.
Inspired now expects full-year total revenues to grow 50% year-on-year, a marked improvement on the 33% growth recorded in the first half of the year and the 24% seen in 2018.
The group's corporate unit made up 89% of total sales and grew 58% on the prior year - with organic growth accelerating to 7%.
Inspired anticipates underlying earnings to increase roughly 39% from the £13.75m recorded in 2018, while cash from operations was said to be up 18% to £14.5m.
The AIM-listed firm's year-end corporate order book stood at £57.5m with the company adding that trading continued to accelerate throughout the first few weeks of the new year.
Chief executive Mark Dickinson said: "2019 has seen the acceleration of growth for the group, with successful integration of the 2018 acquisitions including Inprova Finance Limited, completion of the strategically important investment into Ignite and delivery of further complementary and value-enhancing acquisitions.
"We remain focused on delivering our core financial, operational and strategic objectives, in parallel with broadening the service offering for our clients, to help them to optimise the value of every pound spent on utilities."
As of 1345 GMT, Inspired shares were down 4.88% at 19.50p.
Inspired now expects full-year total revenues to grow 50% year-on-year, a marked improvement on the 33% growth recorded in the first half of the year and the 24% seen in 2018.
The group's corporate unit made up 89% of total sales and grew 58% on the prior year - with organic growth accelerating to 7%.
Inspired anticipates underlying earnings to increase roughly 39% from the £13.75m recorded in 2018, while cash from operations was said to be up 18% to £14.5m.
The AIM-listed firm's year-end corporate order book stood at £57.5m with the company adding that trading continued to accelerate throughout the first few weeks of the new year.
Chief executive Mark Dickinson said: "2019 has seen the acceleration of growth for the group, with successful integration of the 2018 acquisitions including Inprova Finance Limited, completion of the strategically important investment into Ignite and delivery of further complementary and value-enhancing acquisitions.
"We remain focused on delivering our core financial, operational and strategic objectives, in parallel with broadening the service offering for our clients, to help them to optimise the value of every pound spent on utilities."
As of 1345 GMT, Inspired shares were down 4.88% at 19.50p.