Inspired Energy well-positioned for post-coronavirus recovery in activity levels
The whole board also purchased shares in the group on Tuesday afternoon
Company
LON:INSE
Inspired PLC provides market-leading commercial energy and sustainability advisory services to help its clients achieve net-zero and thrive in the future low carbon global economy. The company focuses on helping its clients control costs, reduce energy consumption and carbon emissions and remain compliant in the regulatory landscape.
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The whole board also purchased shares in the group on Tuesday afternoon
The group said its balance sheet position is strong, having recently refinanced its banking facilities to October 2023, with an option to extend to October 2024, and, in addition, cash and cash equivalents of £10.7mln were on hand as at 25
“This combined with integration of acquisitions, provides the board with great confidence that 2020 will be another year of significant progress for the group”
The new facility runs to October 2023 with an option to extend the term for a further year
Inspired acquisitions have included Inprova Finance, Waterwatch UK and Ignite Energy
"Value enhancing acquisitions" including Inprova Finance, continue to boost revenues for the energy consultants, with sales up 33% in the six months to the end of June
The company is geared to do 4-5 deals a year but can do more
The corporate order book is now worth £53mln, a 36% increase
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The firm said revenues for the year were expected to be 21% higher than 2017, with adjusted underlying earnings (EBITDA) forecast to be up 24% and pre-tax profits up 22%
Inspired boss Mark Dickinson boasted that the group accelerated its growth phase
Economists at ING said the August manufacturing data suggests “US business is weathering the protectionist storm for now"
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