Inspired plc adds £20m to revenues

Kirkham-based energy procurement and management specialist Inspired registered £88.8m in group revenues last year, an increase of 31 per cent.

The AIM-listed company has published its audited final results for the year ended 31 December 2022, with significant growth across all areas.

Adjusted profit before tax increased four per cent to £14m and EBITDA increased six per cent to £21m. Dividends per share will be 0.27p.

The company said that demand for its services rose due to spiralling energy costs and an increasing focus on net zero ambitions. However, profits were dampened slightly by the increase in finance costs from a higher level of debt over the year and increased interest rates.

Mark Dickinson, CEO of Inspired, said: "In what has been the most challenging year ever seen in the UK energy markets, when the need for our services has never been more apparent, I am incredibly proud of the group’s performance across all divisions.

“The unprecedented conditions in the UK energy markets, which we believe has started a transition to a ‘new normal’, have sharpened our clients’ focus on ensuring they have invested effectively in carbon and energy reduction.

"The energy crisis has accelerated the focus on ESG objectives as a key priority at board level across our client base and our evolving strategy is well aligned to meet the resulting market demands and requirements.

He added: “We have entered FY23 in a robust position, building on momentum from the prior year. We have a substantial addressable market, high-profile clients, and a record new business pipeline, underpinning the board’s confidence in the long-term growth and success of the group."