AGM Statement and Notice of Results

RNS Number : 2047Q

Inspired Energy PLC

16 June 2015

 



16 June 2015

Inspired Energy plc

("Inspired Energy" or the "Group")

AGM Statement and

Notice of Results

Inspired Energy (AIM: INSE), a leading energy procurement consultant to UK corporates and SMEs, will hold its Annual General Meeting ('AGM') today at 10am. At the meeting Bob Holt, Chairman, will issue the following update on current trading.

"During the first five months of 2015, the Group has seen significant growth and development in all divisions. Notably, the SME division has continued to develop and mature, generating material operating cash, and in turn contributed to strong EBITDA cash conversion for the Group. The Group generated cash from operations of £1.9m, an increase of £1.0m against the same five month period in 2014. As a result net debt for the Group has decreased £600,000 since the period end to £2.5 million.

"Within the SME division like for like contract sales have increased to £1.6m, an increase of 27% against the same five month period in 2014. This growth has been delivered through operational efficiency and systems development, with no additional headcount added to the division.

"The Corporate division has continued to perform and grow strongly, increasing its Order Book from £14.0m as at 31 December 2014 to £15.0m as at 31 May 2015, an increase of 7% in a five month period.  The continued increase in the Corporate Order Book bodes extremely well for the future performance of the division as the contracts won in early 2015 begin to go live during H2 2015 and into 2016.

"In conclusion, the Group has delivered strong organic growth in all divisions, while continuing to enhance the service capability and sector specialisms of our operational teams. We look forward to a very successful 2015."

Notice of half year results

The Company expects to announce its unaudited half year results to 30 June 2015, on 19 August 2015.

Enquiries:   

Inspired Energy plc Janet Thornton, Chief Executive Paul Connor, Finance Director	[phone] www.inspiredenergy.co.uk
Shore Capital Bidhi Bhoma Edward Mansfield	[phone]
Gable Communications Justine James John Bick	[phone] [phone] [e-mail]

Notes to editors

Inspired Energy plc is an energy procurement and management business which was founded in 2000 by Managing Director, Janet Thornton.  Through optimising energy procurement on behalf of its clients Inspired enables its clients to achieve greater certainty of their energy costs and in many cases delivers significant savings.  The Inspired Group currently manages and negotiates gas and electricity supply agreements for approximately 16,000 meters across the UK.  The Group currently operates on behalf of c. 7,750 customers (c.950 corporate; c.6,800 SME) in a broad range of sectors.

 

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