Profits power up at Fylde energy firm

Managing director Janet Thornton at Inspired Energy in Kirkham.Managing director Janet Thornton at Inspired Energy in Kirkham.
Managing director Janet Thornton at Inspired Energy in Kirkham.
Fylde-based Inspired Energy has grown its profits for the sixth year on the trot and welcomed a new non-executive director.

The Kirkham firm saw its profits rise 15 per cent to £4.02m in 2016 from £3.49m the previous year.

This came on a revenue of £21.51m which was up 42 per cent from £15.19m.

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Dividend per share was 0.45p, up 29 per cent form the 0.35p of last time.

The energy procurement consultant to UK corporates said that its performance was due to strong conversion of new business wins in both commercial and public sectors in addition to record renewals of contracts.

The year saw Inpsired’s acquisition of Informed Business Solutions Limited in September 2016:

This broadened the group’s customer base and strengthened its presence in the multi-site retail and leisure markets. With acquisition and growth the number employed has hit 200.

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Janet Thornton, chief executive Officer, said: “I am delighted to report our sixth consecutive year of record revenues and profits. The investment we have made in people, acquisitions and technology over the past years has allowed us to develop into a market leader in our industry and to provide best in class services to our customers.

“I am proud of the accomplishments of our talented and dedicated team, whose hard work has delivered strong growth on all fronts.

“Our growth has been further enhanced by the successful acquisition of Informed, which has integrated extremely well in a relatively short period of time and has continued to perform well as part of the enlarged Group.

Meanwhile Richard Logan, a chartered accountant with 30 years’ experience has joined as a non-executive director.

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He is the finance director of cloud computing company, iomart Group plc, a position he has held since 2006.

He will chair the audit committee and become a member of the nominations committee chaired by Mark Dickinson.

Janet Thornton, added: “We would like to welcome Richard as an independent member of the Board, who brings his years’ of finance and quoted company experience to the Board as we look forward to another year of significant growth and development.”