Inspired PLC (AIM:INSE) said it had encountered contract timing issues as it lowered its earnings forecast for the current financial year.
In an update, the commercial energy and sustainability advisory group also said it had increased confidence in the outlook for 2025 and its ability to meet market expectations for adjusted earnings (EBITDA) of £30.1 million.
Investors were told earnings for 2024 will be around £23 million, down from the market consensus of £27.5 million.
Inspired said the forecast change follows delays in commencing two key optimisation projects, originally expected to contribute significantly to this year’s earnings.
The affected projects, along with an ongoing third, are now expected to deliver the majority of their gross profit in the first half of 2025.
CEO Mark Dickinson said: “The team has worked tirelessly in securing, and in part, commencing these significant optimisation projects.
"Noting the inter-period uncertainty created by large optimisation projects, the group has made good progress on diversifying the risk of large projects.”
Looking ahead, Inspired expects strong performance in 2025, with a pipeline of optimisation projects valued at £165 million.