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Inspired Energy sees record revenue and profits in 2015

Published: 13:15 21 Mar 2016 GMT

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The firm procures gas and electricity for businesses...

Inspired Energy plc (LON:INSE), which procures gas and electricity for businesses, is predicting further growth this year after it reported 17% increase in pre-tax profit for 2015.

There were record revenue, profits and, in its core business, record organic procurement corporate order book sales during the year, the firm noted.

They are to be rewarded with a final dividend of 0.25 pence per a share, taking the total payout to 0.35p, up 40% year-on-year.

Janet Thornton, the chief executive, said: "The corporate division continues to gain traction, both through organic growth and the added services our strategic acquisitions have delivered for our customers.

"Our strong organic growth has been enhanced by the successful completion of the acquisitions of WPUK and STC, which are both integrating extremely well in a relatively short period of time and have proved earnings enhancing.

"We have increased the breadth of our target customer base, whilst broadening our sector specialism to now include Leisure, Logistics and the Public Sector."

Pre-tax profit for the year to end December was £3.49mln (2014: £2.98mln) on revenues, which were 40% ahead at £15.19mln, compared to £10.84mln last year.

High client retention rates were seen with 85% retained, while the headcount rose 70% to stand at 170.

Shares dipped 2.65% to 13.75p a pop.

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