Utilitywise plc Final Results

utilitywiseUtilitywise plc, an AIM listed, independent utility cost management consultancy, has announced its audited full year results for the year ended 31 July 2015.

 Highlights:

  • Revenue: £69.1M (2014 – £48.9M) up 41%
  • Gross profit: £30.3M (2014 – £22.4M) up 35%
  • EBITDA: £17.8M (2014 – £14.5M) up 23%
  • Profit before tax: £16.7M (2014 – £13.4M) up 25%
  • Continued investment in multi-channel routes to the customer
  • Management strengthened with appointment of new COO, Brin Sheridan
  • t-mac Technologies acquisition completed in April
  • UK customers now exceeds 27,000
  • Review of accounting procedures to enable more accurate consumption variance tracking

Geoff Thompson, Chief Executive of Utilitywise, commented:

“The past year has been one of continued progress. We have maintained our growth aspirations and we are well advanced in the roll out of our multi-channel approach to the entire addressable market. We have complemented our capabilities in the year with the acquisition of t-mac Technologies and now can take a customer through the entire journey of procuring their energy, ensuring compliance, monitoring and reporting usage, and controlling and reducing their energy consumption. 

Our management team has been further strengthened and I am delighted to welcome Brin Sheridan to the Group. Brin will assist us along with the rest of the Executive team to deliver this exciting opportunity we have to increase our market share.

We have slowed and refocused our recruitment in recent months to ensure that we have the highest quality of staff capable of delivering our Trusted Advisor strategy effectively and increasing our new customer conversion rates. Since period end the Group’s UK customer base has increased further to 27,265 as at 30 September, with a corresponding increase in secured but not yet recognised revenue to £28.3 million as at 30 September compared to £26.2 million at period end.

Our outlook for the coming years remains extremely positive and we look forward to welcoming thousands of new customers to the services and products we can deploy to help them  optimise their energy usage and to save money.”

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UK, North Tyneside

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