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Professional Services

Water retailer Wave seals public sector deal with Ministry of Justice worth 拢28m a year

The three-year deal started this month and comes with an option to add a further year

(Image: PA)

County Durham based water retailer Wave has secured a deal with the Ministry of Justice which is expected to bring in £84m in revenues.

The Pity Me-based business helps commercial customers across the 海角视频 to drive down water usage and lower their utility bills, with clients ranging from large industrial and commercial customers to SMEs in the public and private sectors. The firm, which employs around 300 people, has won the public sector contract with the Ministry of Justice following a competitive tender through the CCS Water framework.

The three-year contract, which starts this month, comes with an option to add a further year. The contract will generate annual revenues of around £28m.

The business, which trades as Wave and was formed from Anglian Water Business and NWG Business, said the deal marks its second large contract win in recent months, following on from its appointment on YPO’s direct award water framework in September, for a second consecutive term.

Lucy Darch, CEO, said that social value formed part of the Ministry of Justice’s criteria for award of the contract, and that Wave was able to demonstrate social value credentials and customer focus through its Social and Sustainability Promise – a strategy which supports the United Nation’s sustainable development goals, in which the company pledges to do good across the key areas of people, planet, company and customers and communities.

Ms Darch said: “We’re delighted to have secured this contract with the Ministry of Justice, which is a significant addition to our portfolio of public sector customers. We’re a trusted supplier throughout the public sector and recognise the significance not just of delivering excellent service, but also contributing to local communities. This commitment is demonstrated through our Social and Sustainability Promise and our dedication to identifying inefficiencies and encouraging water and cost savings by collaborating closely with our customers.”

Lucy Darch, Wave CEO(Image: Wave)

The deal comes a month after the firm filed accounts for the year ended March 2023, showing how revenues rose from £370.5m to £434.9m, buoyed by a ‘bounce back’ in consumption across large areas of the portfolio in the first full year of trading without Covid-19 restrictions. Operating profits grew from £82,000 to £5.6m and the previous year’s pre-tax loss of £1.7m was converted to profit of £1.7m.

The accounts also highlight how the company performed well within the public sector, after securing a number of customers onto public sector frameworks, adding: “Renewal of these frameworks will be an area of focus in the coming year as the company establishes itself as the premier retailer for public sector customers. The company works with these customers to develop strategies for water efficiency and sustainability, championing social value.”