Inspired PLC (AIM:INSE), the ESG advisory firm, can expect a reduction in its financing costs in 2024 when it moves into a new headquarters in December, analysts at Shore Capital believe.
“We expect to see a significant reduction in overall lease costs for the group from this, partially offsetting higher net finance costs on group financial debt,” the investment group said.
Fit-out costs required for the move have already been captured within the London-based researcher's capital expenditure forecasts, which expect the figure to rise to £7.4 million by the end of the 2024 financial year.
Finance costs are expected to rise over the coming year due to higher interest rates and therefore, despite the savings from moving offices, Shore Capital is set to review these finances when interim results are released in September.
Currently headquartered in Kirkham, the move is not expected to see the company leave Lancashire, but instead is aimed at accommodating the current growth of the company.
Inspired said performance in its ESG and Optimisation divisions helped carry sales momentum for what was a “robust” first half of trading.
Shares in Inspired dropped close to 1% on Wednesday, having opened at around 96p.