Fylde coast energy procurement consultancy Inspired Energy has seen its profits soar after a year of expansion.
The Kirkham-based company, founded by Janet Thornton from her Lytham home in 2000, announced that pre-tax profits jumped 70 per cent to £2.98m for the year ending December 2014.
Revenues leapt by 42 per cent to £10.84m while the number of staff increased by 56 per cent to 103 staff.
Last March, the company took over KWH Consulting and Simply Business Energy, which added an online platform and broadened the client base.
Janet Thornton, managing director, said: “Inspired went from strength-to-strength in 2014 with the corporate division delivering exceptional results, achieving significant new customer wins whilst maintaining high customer retention levels, which has resulted in a strong uplift in revenue and order book sales. This momentum has continued into 2015. The momentum gained in the second half of 2014 in the SME division as a result of organic growth and strategic acquisitions, has continued, with the division outperforming our expectations in the current year. The board continues to see a strong, structural growth trend within the energy consultancy sector, which will further benefit the group in the years to come.
“Businesses in both the larger corporate arena and SMEs increasingly look to energy consultancies to help them with their energy procurement negotiations and strategies.
“On behalf of the board, I would like to thank all of the Inspired team for their hard work over the past year, and we look forward to another exciting year of growth and development of the group.”
The company said it would pay a final dividend of 0.18p per share (2013: 0.12p), resulting in a total dividend for the year of 0.25p (2013: 0.17p), up 47 per cent on last year.
Chairman of the AIM listed firm, Bob Holt, said: “I am delighted to present another set of record results for the group for the year ended December 31, 2014, which has seen a year of significant growth for the group. I am particularly pleased to report that the financial results achieved have beaten consensus market forecasts for the year.
“We continue to review acquisition targets which can enhance the business adding to our service capability, sector specialism and geographical spread, whilst continuing to deliver strong organic growth rates.”