Inspired Energy swoops as profits rise

By Ged Henderson

22 Mar 2018

Lancashire-headquartered energy procurement consultant Inspired Energy has announced record final results and two new acquisitions in its drive for further growth.

The Kirkham-based AIM listed business saw its revenues rise to £27.46m in 2017, up 28 per cent on the previous year.

Adjusted pre-tax profits also rose by 38 per cent to £9.7m. The group’s EBITDA increased by 33 per cent to £11m. And record revenues were delivered by Inspired’s Corporate Division - growing 32 per cent to £21.5m.

The business also revealed it has bought SystemsLink, a Bedford-based supplier of software that enables customers to monitor and manage their utilities consumption, in a £3.87m deal.

In the second deal announced today Inspired has also acquired Kirkham-based water and energy management services firm ECM.

An initial cash payment of £500,000 could be followed by further payments of up to £1m in cash and the issue of up to £500,000 in Inspire Energy shares.

 
They are the latest in a number of acquisitions made by Inspired over the past 12 months as it looked to increase its geographical presence and broaden its customer base.

Mark Dickinson, who became chief executive of Inspired Energy in October, said: “I am delighted to report on a very strong period of growth for the group across all key areas: financially, operationally and strategically, which is a testament to the value of our customer proposition and the talent and dedication of our staff.

“In 2017, the group completed three value-enhancing acquisitions within our core Corporate Division, a debt refinancing and a £9m equity placing, providing an excellent platform for the business to continue to deliver on our stated growth strategy.

“I am pleased to report the integration of all three acquisitions concluded in 2017 is progressing well and they are each performing in line with expectations.

“Inspired Energy had an excellent 2017 and I am confident that 2018 will be another year of significant progress for the group, with strong trading in the current year to date.”

Commenting on the latest acquisitions he said: “These acquisitions broaden our customer base and further enhance our sector specialisms and service offering. “We look forward to working closely with the highly experienced and knowledgeable teams of both businesses and welcoming them into our core Corporate Division as we continue to advance our position as a market leader.”

Enjoyed this? Read more from Ged Henderson

Latest news

1

Stephen Faulkner appointed managing director of Preston-based north west law firm Napthens Stephen Faulkner

Stephen Faulkner appointed managing director of Preston-based north west law firm Napthens

04 Dec 2024

2

Manufacturing Day tour shows how Lancashire businesses are flourishing National Manufacturing Day trip to What More

Manufacturing Day tour shows how Lancashire businesses are flourishing

04 Dec 2024

3

Lancaster University Management School embarks on next phase of major refurb Lancaster University Management School

Lancaster University Management School embarks on next phase of major refurb

03 Dec 2024

4

VEKA collects promotional campaign of the year at G Awards VEKA win award at G24

VEKA collects promotional campaign of the year at G Awards

03 Dec 2024

5

Fuuse acquires Everyday EV to enhance services for charge point owners and electric vehicle drivers Fuuse

Fuuse acquires Everyday EV to enhance services for charge point owners and electric vehicle drivers

02 Dec 2024

PC PrestonMacan GIF980x120
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
The Lancashire Festival of Business
FOB 315
Exhibitions
30 Jan 2025

The Lancashire Festival of Business

Impact Conferencing, Burnley, BB12 6QP

09:00 - 16:00

Skills Bootcamp in Procurement - Cohort 2
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Seminars
15 Oct 2024 - 17 Dec 2024

Skills Bootcamp in Procurement - Cohort 2

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

RKMS Quarterly Networking Event - Blackpool, Wyre & Fylde - Festive Fun
image00005.jpeg.jpg
LBV Hub Networking
12 Dec 2024 - 12 Dec 2024

RKMS Quarterly Networking Event - Blackpool, Wyre & Fylde - Festive Fun

RKMS Group , Blackpool, FY42DP

09:30 - 11:30

CQI and IRCA Lead Auditor Training Course ISO 9001 – Quality Management Systems (QMS)
IRCA-Certified-Course.jpg.jpg
LBV Hub Webinar
16 Dec 2024 - 20 Dec 2024

CQI and IRCA Lead Auditor Training Course ISO 9001 – Quality Management Systems (QMS)

Via MS Teams Link - RKMS Group , Blackpool, FY4 2DP

09:00 - 17:00

Skills Bootcamp in Procurement - Cohort 3
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Awards
14 Jan 2025 - 18 Mar 2025

Skills Bootcamp in Procurement - Cohort 3

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

Preston Tech Connection - January Meet-Up
Nov Preston Tech Connection event banner-4.png.png
LBV Hub Networking
15 Jan 2025 - 15 Jan 2025

Preston Tech Connection - January Meet-Up

Society1 Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Red Rose Awards 2025
Red Rose Awards 2025
Awards
13 Mar 2025

Red Rose Awards 2025

Winter Gardens Blackpool

18:00 - 11:59

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV118 Online Graphic
Subscribe now

Weekly news bulletin