Yü Group PLC (AIM:YU.) saw its shares surge over 12% higher on Monday as it reported "excellent” trading and forecast full-year numbers “significantly” ahead of market expectations.
In a trading update, the independent supplier of gas, electricity and water to the UK corporate sector said its “exceptional” performance is expected to continue beyond 2022.
Record average monthly bookings from new and renewed customer contracts over the last three months have resulted in the company forecasting revenue of around £260mln for the year to 31 December 2022, representing annual growth of around 67%.
EBITDA profit is expected “to continue its strong trajectory”, with the second half of 2022 predicted to exceed the 2.1% growth rate achieved in the first half, driven by strong demand and the efficiencies of its digital by default transformation.
Operational cash flow remains strong and net cash as of end-2022 is expected to significantly exceed market expectations, Yü Group said.
Shares were 12.78% higher at 383.44p in morning trade.