Yü Group PLC (AIM:YU.) shares jumped almost 5% higher on Tuesday morning as the smart meter installer revealed that it should exceed its full-year 2023 guidance on the back of strong first-half trading.
Setting out goals to exceed guided full-year revenue of £500mln and meet a new 5% growth target in pre-tax earnings margins, Yü Group said first-half trading had outperformed expectations, with bookings and cash doubling to £51.3mln and £36.6mln respectively.
“Our growth continues to surpass expectations,” said Yü Group boss Bobby Kalar, “we are as excited as ever about the future of Yü Group and remain focussed on exceeding [targets]”.
Customers have flocked to “lock in” the benefits of falling commodity prices, according to the company, leading to an uptick in bookings and installed meter points.
Interim results will be issued on September 26, the group added, with today's well-received trading update pushing the shares 4.7% higher to 781.2p.