Targets confirmed for Fylde energy company

A Fylde coast energy firm has forecast record results after hitting revenue of £15.19m, a 40 per cent increase on the previous year.

Tuesday, 22nd March 2016, 9:55 am
Updated Tuesday, 22nd March 2016, 10:02 am
Managing director Janet Thornton at Inspired Energy in Kirkham.

Inspired Energy saw its pre-tax profits rise 17 per cent to £3.48m for the year ending December 31.

The Kirkham-based firm said it had seen robust organic growth, with the procurement corporate order book, excluding the impact of the acquisitions of WPUK and STC, increasing by 25 per cent to £17.5m.

It had also seen significant growth in its corporate division after buying Wholesale Power UK in July last year which gave it a foothold into new industry sectors.

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In November 2015 it snapped up STC Energy and Carbon Holdings a energy bureau, billing and management service provider.

It now employs 170 people.

Janet Thornton, chief executive officer and founder, said: “2015 represented our fifth consecutive year of record revenues and profits with revenue increasing by 40 per cent and adjusted EBITDA by 25 per cent.

“The corporate division continues to gain traction, both through organic growth and the added services our strategic acquisitions have delivered for our customers.

“I am proud of the accomplishments of the team whose hard work has delivered strong growth on all fronts as we continue to add value through our broadened services to our customers.

“Our strong organic growth has been enhanced by the successful completion of the acquisitions of WPUK and STC, which are both integrating extremely well in a relatively short period of time and have proved earnings enhancing.

“We have increased the breadth of our target customer base, whilst broadening our sector specialism to now include Leisure, Logistics and the Public Sector.

“The momentum from 2015 has carried through to the first quarter of this year, with the Procurement Corporate Order Book growing to £25.5m.

“We are seeing the trend for growth in the year continuing on a positive trajectory.”