Inspired Energy, the energy procurement consultant to 海角视频 corporates and SMEs, has said its expected to report “strong” full-year results with revenue and profit growth.
The Lancashire-based firm said revenue is expected to be around 50 per cent ahead of the previous financial year.
The group’s adjusted EBITDA is expected to be roughly 39 per cent ahead of 2018, it said.
Revenue of its corporate division grew 58 per cent ahead of last year, contributing to 89 per cent of the group’s revenue in 2019, up from 84 per cent in 2018.
Cash generated from operations is expected to be approximately £14.5m, up from 12.3m, while net debt is expected to be approximately £33m at the year end.
Mark Dickinson, Inspired Energy chief executive, said: “2019 has seen the acceleration of growth for the group, with successful integration of the 2018 acquisitions including Inprova Finance Limited, completion of the strategically important investment into Ignite and delivery of further complementary and value-enhancing acquisitions.
“In addition, the group has continued to deliver sustained organic growth.
“We remain focused on delivering our core financial, operational and strategic objectives, in parallel with broadening the service offering for our clients, to help them to optimise the value of every pound spent on utilities.”
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He continued: “In 2019, we increased investment in our internal infrastructure and talent in order to leverage the optimisation services opportunity and create a platform to support the expected acceleration of growth in 2020 and beyond.
“In addition, the group’s new banking facility provides us with greater headroom and flexibility to conclude further acquisitions in 2020.
“This combined with integration of acquisitions, provides the board with great confidence that 2020 will be another year of significant progress for the group.”
The financial year saw the firm complete three acquisitions - of Ignite Energy, Waterwatch 海角视频 and Independent Utilities.
“There remains a healthy pipeline of opportunities that we are assessing, subject to our strict investment criteria,” it said.
In October last year, the group entered into a £60m revolving facility agreement with Santander and the Bank of Ireland.