Utility company Everflow saw revenues grow by nearly 20% last year, accounts show.
The Peterlee firm has released accounts for 2024 in which its turnover increased from £156.8m to £188m. An operating loss of £639,700 in 2023 was turned into a profit of £2.2m.
Everflow was launched in 2017 when the Government first announced it was deregulating the market for business water suppliers, ending regional water companies’ monopoly. It now offers additional services, including telecoms, and serves more than 120,000 customers.
The company said its growth had come as a result of winning new customers, while it had also delivered operational efficiencies through increased use of technology throughout the organisation. The company’s headcount has this year passed 200.
The accounts say: “The business also completed work on the head office as well as investing across leadership development to prepare for future growth. Overall, 2024 represents another successful year for the business, with a number of foundations being laid to support future plans, and the directors look forward to delivering further growth and performance in the coming years.”
The company has also released unaudited results for the first half of 2025, saying that it has seen revenues of £119.3m and gross profits of £12.5m. The company said the results come against a challenging economic backdrop.
CEO Craig Dallison said: “These results demonstrate the dedication of our people and the true value we create for our customers. We remain committed to innovation and continued investment in technology to make utility management even simpler and more seamless.
“By expanding our service lines, we’re enabling customers to manage more from a single platform. The strong growth we’ve seen in the first half of this year is a clear testament to our ambition to scale, and we’re well positioned to build on this momentum in the coming months and years.”
Chairwoman Lucy Armstrong said: “Our successful first half of 2025 reflects our clear leadership, strong strategy, and culture that prioritises the customer as we grow. As we move into the second half of the year, we remain committed to advocating for greater transparency in the utility sector, while working closely alongside regulators to drive meaningful change that enhances the customer experience and delivers improved environmental outcomes.
“Everflow made its mark as a disruptor and we continue to keep that challenger mindset at the heart of the business as we build out our service offering.”
