Utilitywise announces preliminary results for the year ended 31 July 2013

Utilitywise, a  utility cost management consultancy, has announced its unaudited preliminary results for the year ended 31 July 2013.

Financial Highlights

  •  Revenue: £24.83 million (£14.38 million in 2012) – plus 73%
  • Gross margin: 47.2% (43.1% in 2012)
  • EBITDA: £7.39 million (£3.86 million 2012) – plus 79%
  • Profit Before Tax: £6.98 million (£3.86 million in 2012) – plus 81%
  • Diluted EPS: 7.9p (5.4p in 2012) plus 46%
  • Proposed final dividend payment of 1.8p, making total dividend for the year of 2.6p

Further financial detail can be found on the company’s website http://www.utilitywise.com.

Acquisition activity

 

Operational Highlights

  • 15,333 customers and 44,361 meters at 31 July ( 30 September 2012: 11,400 and 32,972 respectively) with additional 550 customers and 23,000 meters added through EIC
  • £16.6 million of secured contracts waiting to go live as at 31 July ( 31 July 2012: £7.1 million)
  • Post Period –  £18.2 million of secured contracts waiting to go live as at 30 September 2013

·     Board of Directors strengthened with non-executive appointments of Jeremy Middleton and Jon Kempster

Geoff Thompson, Chief Executive of Utilitywise, commented, “Our first full year as a plc has proved a very successful one. As well as delivering very strong organic growth we have been able to invest and build for the future. Integration of the three businesses that we acquired is progressing well and we have entered the new financial year with an improved suite of products and services to satisfy the wider energy needs of all businesses, regardless of size.

“The market in which we operate remains highly fragmented and we have still attracted only a very small percentage of our addressable market. Through our strong relationships with energy supply companies and our ability to identify customers and deliver the optimum solutions, we remain confident in the continued success of the Company.”

Utilitywise has also a appointed to he Board of Jeremy Middleton, CBE and Jonathan ‘Jon’ Kempster as non-executive Directors, effective immediately.

Jeremy Middleton is an entrepreneur best known for having co-founded Homeserve PLC, the FTSE 250 international home emergency business where he remains on the executive committee.

Jon Kempster has held a number of PLC finance roles, most recently as Group Finance Director of Wincanton plc, the UK and Ireland logistics and distribution group.

UK, South Shields

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