Lancashire-based energy group Inspired Energy is looking to keep expanding after it reported a “stellar” year, netting pre-rax annual profits of £1.75 million.
The Kirkham-based company was formed in 2000 by Janet Thornton.
Commenting on the annual results, managing director Janet said: “2013 was a stellar year for Inspired, one which has put the Group in a very strong position to build on this solid growth into 2014.
“The team grew by 22 per cent and the record results we have delivered are testament to their hard work and commitment to the business.
“The current year has started well and the Group is ahead of the Board’s expectations, with a strong pipeline for the year ahead.
She added: “We look forward to a successful 2014 and the opportunities of building the Group organically and through further acquisitions within the sector.”
The Inspired Group currently manages and negotiates gas and electricity supply agreements on behalf of around 3,200 corporate and SME customers across the UK in a broad range of sectors.
Through optimising energy procurement for its clients, Inspired enables its clients to achieve greater certainty of energy costs and in many cases delivers significant savings.
Financial Highlights included: l Revenue increased 45 per cent to £7.62 million
• Earnings before exceptional costs and share-based payment costs increased 34 per cent to £3.55 million.
• Operating profit for the year was £1.98 million
• Profit before tax of £1.75 million.
• A record period of new sales, continuing into the new year
• Order book grew 23 per cent to £11.0 million
• The SME division contributed revenue in the year of £1.35 million
• A final dividend is proposed of 0.12 pence per share (interim dividend of 0.05 pence per share)