Fylde energy firm hails leap in revenues

Managing director Janet Thornton at Inspired Energy in Kirkham.
Managing director Janet Thornton at Inspired Energy in Kirkham.
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Kirkham-based energy group Inspired Energy is reporting a 40 per cent jump in revenue.

It said in a trading report ahead of its annual figures due in March, that it expected revenues to be ahead of market expectations at £15.1 m compared to £10.8m in the year end to December 2014.

It said the corporate division had an excellent year, both organically and as a result of the enhanced service offering following the acquisitions of two companies, Wholesale Power UK and STC Carbon Holdings.

It said procurement corporate order book sales were £12.2m in the year to 31 December 2015 (2014: £10.m), a like-for-like organic growth of 22 per cent.

Talking about the two company deals it said WPUK and STC, were both integrating well and that the acquisitions have enhanced Inspired’s service offering and broadened the client base within the corporate division, both geographically and by sector.

It said: “The acquisition of STC in particular has added skills, services and strategic options to the group and the board is pleased to report that the alignment between the existing corporate division and the team at STC is beginning to provide significant revenue opportunities.

“The group has continued to deliver its growth strategy throughout the year and the board is pleased to see that this trend has continued strongly into the start of the new financial year.”

The two deals have left the group with a net debt of around £9m. Janet Thornton, CEO of Inspired Energy, said: “I am delighted with the group’s achievements over the past year, delivering strong growth on all fronts as we continue to deliver value-add services to our customers.

“Our strong organic growth has been enhanced by the successful execution of the acquisitions of WPUK and STC.

“Both acquisitions have proved complimentary to the business, increasing the breadth of our target customer base, while enhancing our sector specialism to now include Leisure, Logistics and the Public Sector.

“Integration of both companies is progressing well, and we continue to advance our position as a market leader.

“With the enhanced structures and team now in place, we have a very strong platform for growth which we are continuing to experience in the current year.”