Inspired Energy PLC (LON:INSE) has reported a 33% improvement in first-half revenue and strong cash generation.
Revenue for the six months ended June 30 amounted to £16.24mnln, up from £12.24mln in the 2017 comparative period, while cash generated from operations rose to £4.96mln from £3.27mln.
The energy procurement consultant revealed that its growth was driven by its performance with corporate clients, with that division showing a 50% rise for a record revenue of £13.75mln.
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Adjusted pre-tax profit was reported up 39% at £5.35mln, albeit the un-adjusted pre-tax profit of £2.09mln fell 4% on the first half of last year. Net debt increased 58% to £19.88mln as the group financed acquisitions during the period.
The group’s interim dividend was increased 19% to 0.19p per share, up from 0.16p.
Mark Dickinson, Inspired chief executive, in a statement, said: "2018 has seen the acceleration of our next growth phase with three complementary and value-enhancing acquisitions completed to date whilst the Group has continued to deliver sustained organic growth.
“We remain focused on delivering our core financial, operational and strategic objectives, whilst simultaneously broadening the service offering for our clients, to help them to optimise the value of every pound spent on utilities through our bespoke service."