Profits power ahead at Inspired Energy

PROFITS have rocketed at Lancashire energy procurement consultancy Inspired Energy.

Shares in the Kirkham-based company rose 18% to 12.25p after annual results showed a 70% surge in profits to £2.98m and a 42% hike in revenues to £10.84m in the year to December 31 2014.

As well as turnover passing the £10m milestone for the first time, the AIM firm said its employee numbers had topped 100 after investment in acquisitions and organic growth.

Inspired Energy by strong growth in its corporate division, which delivered record profits, revenues and order book sales. And it also reported continued rapid growth in its smaller SME-focused division, particularly in the second half of the year.

Managing director Janet Thornton said: “Inspired went from strength to strength in 2014 with the corporate division delivering exceptional results, achieving significant new customer wins whilst maintaining high customer-retention levels which has resulted in a strong uplift in revenue and order book sales.

“This momentum has continued into 2015. The momentum gained in the second half of 2014 in the SME division as a result of organic growth and strategic acquisitions, has continued, with the division outperforming our expectations in the current year.

“The board continues to see a strong, structural growth trend within the energy consultancy sector which will further benefit the group in the years to come.”

The company said it would pay a final dividend of 0.18p per share (2013: 0.12p), resulting in a total dividend for the year of 0.25p (2013: 0.17p), up 47% on last year.

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