Sureserve Group PLC (AIM:SUR) said growth in revenue, earnings and cash flow are expected to be in line with management expectations for the past year.
At its 30 September 2022 year end, the provider of energy services to the social housing sector recorded an order book of £585mln, up more than 16% over 12 months.
The AIM-listed group said it had delivered a “solid operational performance despite inflationary pressures”, having taken action to offset these price headwinds and is confident it can continue to mitigate them.
Net cash had also improved, to above £23mln, excluding lease liabilities, from £16.5mln a year ago, with its £15mln revolving credit facility remaining undrawn.
“The results for the year confirm a good trading performance and demonstrate Sureserve's resilient business model,” said chief executive Peter Smith.
He said the order book “provides good visibility of future earnings and our strong cash generation sets us up well to deliver on our growth targets”.
Two businesses, Sureserve Fire & Electrical and Precision Lift Services, continue to be held for sale, the Dartford-headquartered company said, with both “performing well” to provide the opportunity “to achieve the right price and the right buyer for each business”.