Yu Group expects annual revenue to significantly beat expectations
Source - SMW
Gas and electricity utility Yu Group said revenues for the year would be significantly ahead of current market forecasts.
Operating profits would also be ahead of current market expectations, despite additional investments in headcount and fixed costs, the company said.
Yu Group had net cash at December 31 of £5.0m, down from £5.2m at the end of 2016.
'It has become increasingly apparent that the opportunity for the group mainly rests within the medium-sized corporate sector, while recognising that the small business and larger corporate sectors provide a firm foundation for the group's activities,' the company said.
'Our success in this middle market leads us once again to increase our expectations for growth in 2018 and thereafter.'
'As such we anticipate that revenues for 2018 and 2019 will be substantially ahead of our previous expectations.'
At 8:04am: (LON:YU.) Yu Group Plc share price was +115p at 1140p