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Inspired Energy defers dividend to save cash; profit rises on higher revenue

By BFN News | 08:14 AM | Tuesday 02 June, 2020

Energy consultancy Inspired Energy deferred its final dividend for 2019 in an effort to save cash despite reporting a rise in profit. The final dividend would be deferred and reassessed at the release of the 2020 interim results, the company said. For the year ended 31 December 2019, pre-tax profit rose 13% to £4.75m on-year as revenue jumped 51% to £49.3m. 'The group was largely unaffected by Covid19 until very late in March and the business delivered a strong performance in the first quarter, with trading in line with the Board's expectations at the time and ahead of the same period last year,' the company said. 'The board is monitoring conditions on a continuous basis and should these continue to stabilise it expects to be in a position to provide financial guidance for the current year, within the next few months,' it added. At 8:14am: (LON:INSE) Inspired Energy PLC share price was +0.25p at 17.5p Story provided by

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