Utilities supplier on track to achieve £260m milestone

Nottingham-based utilities supplier Yü Group is expecting to achieve 67% revenue growth this financial year after enjoying another “exceptional” few months’ trading.

In a statement to the London Stock Exchange this morning (28 November), the firm, which supplies gas, electricity and water to UK SMEs, said it was on track to post revenues of £260m after achieving record average monthly bookings from new and renewed customer contracts over the last three months.

The company added that its full year financial metrics are now anticipated to be “significantly ahead” of expectations.

Profits at Yü are also on a strong trajectory thanks to the success of the firm’s digital strategy, which it said had provided a platform to “rapidly scale the business.”

The company is due to publish its full-year results in January 2023.