Share price rockets at energy group as profits set to outpace expectations

The share price of Nottingham-based utilities provider to businesses, Yu Group rose sharply on Wednesday (May 31) on the back of what it called “continued strong trading momentum”.

The firm said that it expects revenue and profits for 2023 to be “substantially” ahead of market expectations.

The news meant that Yu’s share price leapt by almost a quarter on Wednesday, reaching 570p as investors scrambled to get a piece of the action.

Bobby Kalar, CEO, said: “I’m delighted to report a further increase in our expectation of revenue, profit and cash, and I’m looking forward to present a ninth consecutive half year improvement in our interim results.

“I look forward to updating shareholders as the group continues to deliver and set new records.”