Inspired Energy reports strong order book growth

INSPIRED Energy, the AIM-listed Preston company which offers energy procurement services to corporates, says it is pleased with progress so far this year and is still looking for acquisitions.

Inspired, which floated in November 2011, said its order book value has increased by £1m since the end of 2012 and is 25% ahead of the same period last year.

In a trading update for the six months to June 30 said its main corporate division, which is made up of Inspired Energy Solutions and acquired business Direct Energy Purchasing had performed strongly in the first half and had benefited from cross-selling opportunities.

Order book sales within the division have increased by around 18% to £4m.

The company said its newly-launched SME division, EnergiSave has made a strong start and seen rapid growth in its staff in reponse to market opportunities.

Managing director Janet Thornton said: “I am delighted by our performance in the first half of 2013.  The group’s two divisions are performing well and we have made significant operational progress in the period.  

“Order book sales have continued to grow at an impressive rate and we are extremely proud to have achieved an order book of £9.9 million.  We are in a very strong financial position and are set to continue our organic growth in H2 2013 and beyond.  We also remain committed to our acquisition strategy and continue to seek further earnings enhancing acquisitions.”

Inspired will announce its half year results on August 19.