Double-digit growth sees Inspired near £100m revenues

Kirkham-based Inspired enjoyed 11 per cent growth in 2023, taking total revenues to £98.8m.

The AIM-listed business made its name helping businesses to manage and lower their energy bills and has continued its success in recent years with a focus on helping them transition to net-zero and manage their response to climate change.

For the year ended December 31, 2023, adjusted profit before tax increased by 13 per cent to £15.8m. 

There was growth across all divisions, with ESG services more than doubling to £5.5m income just three years after the launch of the department.

In terms of business KPIs, Inspired was able to achieve double-digit growth in the number of clients served which used more than one service (615), generated over £50,000 in income (227), and those which fell into both categories (159).

The proposed final dividend per share is 2.9p, up from 2.7p.

Mark Dickinson, CEO of Inspired, said: “FY23 was another year of solid strategic progress for Inspired, as the group continues to benefit from the realisation by corporates of all sizes of the growing need for, and tangible benefits of, effective management of energy costs and consumption. The solid organic growth we have continued to deliver, within the context of a challenging macro-economic backdrop, demonstrates the team’s hard work to transition into a full suite, technology enabled, sustainability services provider.

“Our diverse service offering, and strong customer relationships underpin our organic growth strategy, supported by our growing cross-selling successes across our customer base as evidenced by our newly published non-financial KPIs. This, coupled with a supportive market backdrop, gives the Board confidence in achieving its long-term financial aspirations.”