Double-digit revenue growth sends Inspired into the black

Kirkam-based energy advisor Inspired has turned a deficit into year-end profits after achieving a 47 per cent increase in revenues.

For the year ended 31 December 2021, the company registered £67.9m income, up from £46.1m over the previous year. Adjusted EBITDA increased 55 per cent, from £12.8m to £19.8m. 

This helped turn a pre-tax loss of £4.5m a year ago into £1.1m profit.

Income was boosted by the acquisition of Businesswise in the first quarter, and further bolstered by the launch of an environmental, social and governance (ESG) division which helps businesses work towards their Net Zero Carbon targets.

Looking ahead, the company says that 2022 has begun with strong sales. The order book stands at £67.5m, up seven per cent over the year prior.

Mark Dickinson, CEO of Inspired, said: "Despite the changing landscape, we are delighted to report on a period of significant progress across the group in 2021, both financially and operationally. The performance reflects the continuing recovery in energy consumption, alongside a return to on site access to client premises, accelerating the delivery and implementation of energy optimisation services.

"Turning to current trading, we are pleased that Q1 has started in line with expectations, and we are continuing to successfully manage the uncertain macroeconomic and geopolitical backdrops. Inspired remains focused on helping its clients manage their costs and sustainability challenges through this crisis.

"Looking ahead, the trend towards greater ESG focus coupled with strong growth of the group's revenues, and adjusted EBITDA in the year, has created a strengthened platform capable of generating long-term growth, and underpins the board's confidence in achieving our financial goals."