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Spice is keen as mustard to expand
INENCO owner Spice today announced another set of strong figures with profits up by more than 40 per cent.
The firm's St Annes office plans to expand the number of businesses it provides energy advice to in the New Year.
And chief executive Simon Rigby said the group is well placed to benefit from new climate change legislation.
The utility support services group owns Inenco, which employs more than 130 people at its base on St Andrew's Road North.
Bosses at Inenco told The Gazette they expect to add new businesses to their portfolio in early in 2009.
The firm provides advice to businesses on how they can save energy and reduce their bills
Spice, the Leeds-based group which owns Inenco, saw pre-tax profits rise 41 per cent to 14m in the six months up to October 31.
The group says it is now well placed to benefit from the new Climate Change Act which has gone through Parliament.
Mr Rigby, who lives on the Fylde, said: "We expect the Act, which was brought into law in November, will create new legislative drivers and opportunities .
"We remain confident about the second half of this financial year and beyond, with any short-term softness in our market place expected to be offset by ongoing strength in our energy and utility markets."
He added the group is on course to hit market predictions of a 44 per cent profits increase in the full year.
Mr Rigby said it made three acquisitions in the first half and expected to complete a further three before the end of its financial year.
Inenco has been one of the most successful Fylde companies trading this year, celebrating its 40th anniversary.
Founded in 1968, the firm is the UK's leading provider of energy and overhead cost control to industrial, commercial and retail customers, along with leading public sector bodies.
In June 2006 the firm joined the AIM-listed support services group Spice plc in an 11.8m merger deal.
Inenco manages nearly 1bn of gas and electricity for blue chip customers.
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Weather for Blackpool
Wednesday 30 May 2012
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Temperature: 12 C to 20 C
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