Leap in revenue for Kirkham energy firm

DELIGHT: Janet Thornton

DELIGHT: Janet Thornton

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Kirkham-based energy group Inspired Energy has reported 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 £15.1m 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 added 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, chief executive officer 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.”