Energy procurement firm seeks more deals

THE boss of a North West energy procurement firm for businesses is expecting further progress this year after a “stellar” 2013.

Inspired Energy, based at Kirkham, Lancashire, has reported surging revenues and earnings and reported a pre-tax profit of more than £1m for the first time.

It said its record period for new sales had allowed it to create a dozen new jobs and its order book had risen 23% to £11m over the last 12 months.

AIM-listed Inspired Energy said revenue increased 45% to £7.62m in 2013 as EBITDA before exceptional costs and share-based payment costs powered ahead by 34% to £3.55m.

Bottom-line profit before tax came in nearly  double that of the previous year, jumping from £890,000 to £1.75m. The company said it would pay its investors a final dividend of 0.12p per share.

Managing director Janet Thornton said:  “2013 was a stellar year for Inspired, one which has put the group in a very strong position to build on this solid growth into 2014. The team grew by 22% (to 66) and the record results we have delivered are testament to their hard work and commitment to the business.

“The current year has started well and the group is ahead of the board’s expectations, with a strong pipeline for the year ahead.”

She said the company was on the look out for bolt-on acquisitions – this month it has acquired two smaller firms, SBE and KW.

“We look forward to a successful 2014 and the opportunities of building the group organically and through further acquisitions within the sector.”