Inspired Energy to report annual pre-tax profit growth
Source - SMW
Inspired Energy, a leading UK energy procurement consultant to UK and Irish corporates and SMEs, announced very strong growth across all key areas, and expects revenues and adjusted EBITDA to be ahead of 2016.
'Group revenues are expected to be close to 28% ahead of 2016, with adjusted EBITDA expected to be close to 33% ahead of 2016,' Inspired Energy said.
The upbeat performance was buoyed by the corporate division, contributing roughly 79% of group revenues as client retention remained above 85% which contributed to a procurement corporate order book of £39.0m compared to £28m in 2016, representing year-on-year growth of 39%.
Cash generated from operations is expected to rise 42% ahead of 2016, while net debt is expected to be approximately £14.7 million at the year end.
The company announced that Matthew Thornton will step down as Sales Director and become a Non-Executive Director following the release of the Group's preliminary results for the year ending 31 December 2017.
Mark Dickinson, CEO of Inspired Energy, said: 'In 2017, the Group completed three value-enhancing Corporate acquisitions, a debt refinancing and a £9.0m placing, providing an excellent platform for the business to continue to deliver on our stated growth strategy.'
'I am pleased to report all three acquisitions concluded in 2017 are performing in line with expectations and the integration process is progressing well.'
At 8:47am: (LON:INSE) Inspired Energy PLC share price was +0.5p at 21.5p