Inspired reports significant growth

Inspired Energy, the Kirkham-based, AIM-listed energy procurement consultant has reported revenue growth of more than 50 per cent for the year ending 31 December 2019.

Total income reached £49.3m, which resulted in a 13 per cent increase in pre-tax profits, up to £4.8m. The order book increased from £53m to £57.5m, and has continued to grow despite the coronavirus pandemic.

The year saw the group purchase and integrate Waterwatch UK Limited and Independent Utilities Limited, which helped boost its product portfolio.

Mark Dickinson, CEO of Inspired Energy, said: “Whilst we are undoubtedly in a period of economic uncertainty, the board believes that the group’s profitable and cash generative nature coupled with a strong order book and substantial liquidity at its disposal, will see it well placed as the economy emerges from the current period of uncertainty.

“As a management team we will ensure we remain disciplined and proportionate in our response to the crisis. At times of significant trading pressures, companies like Inspired Energy tend to be part of the solution for corporate energy consumers looking to regain their competitiveness and restart their economic engines and as such demand for our service often increases at times of crisis. This was the experience of the energy advisory sector during the financial crisis of 2008."

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