Source - Alliance News

Eneraqua Technologies PLC - London-based heating and hot water systems for social housing and commercial projects - Reports higher profit & revenue in its financial year as it pays its first dividend. Pretax profit for the year ended January 31 jumps to £4.1 million from £792,000 a year ago. Revenue surges to £36.2 million from £14.6 million, boosted by organic growth in energy & water sectors. Pays a maiden dividend of 1.0 pence per share, brought forward to 2022 from 2023.

‘Financial year 2023 has started well and the company expects to deliver on its growth plans in the domestic and commercial energy markets as well as the water sector,’ Eneraqua says. ‘The group is in a strong position with a healthy balance sheet and a strong order book,’ it adds. ‘The increasing net zero regulation and initiatives being introduced across the globe provide us with confidence that we can deliver long-term value for our shareholders,’ comments Chief Executive Officer Mitesh Dhanak.

Current stock price: 281.00 pence, up 4.1% on Tuesday

12-month change: down 3.1%

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