Lancashire energy and business solutions specialist sees revenues hit new record

Half year revenue at Fylde energy specialist Inspired has increased over last year’s record after the firm saw a bounce-back in its profits following the lockdown period.

Saturday, 11th September 2021, 4:55 am

The Kirkham-based group which earlier this year changed name from Inspired Energy to reflect a broadening of its services, said that revenue for the six-month period ended June 30 was £32.6m, up from £24.9m in 2020.

Pre-tax profit went from £952,000 to £935,000 while, on an adjusted basis, they rose from £5.08m to £6m.

Its adjusted EBITDA also grew from £7.64m to £8.82m, up 15 per cent.

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Mark Dickinson of Inspired

The order book as at 30 June 2021 increased 12 per cent to £69m.

It added that industrial and commercial energy consumption levels in the period were in line with expectations, being 13 per cent below 2019 levels in Q1, with second half consumption to date reflecting the continuing economic recovery from the pandemic.

Mark Dickinson, CEO of Inspired, said: “The rebound in the first half results in 2021 reflects the continuing recovery in energy consumption, along with a return to being able to access client premises to deliver energy optimisation services.

“We are pleased by the current execution of the business plans within the Software Solutions and ESG Solutions divisions, which, although at an early stage, are developing strongly and we expect further progress during 2022.

"As we have transitioned from Inspired Energy PLC to Inspired PLC, we are well positioned to evolve our purpose as we help our clients respond to Climate Change whilst controlling their costs.

“Our objective is to evolve into the leading provider of services to help businesses to respond to climate change and meet their net zero targets.”

The group completed the acquisitions of Businesswise Solutions and General Energy Management in March 2021.

Board changes included Richard Logan appointed non-executive chairman with Mike Fletcher retiring from the position after nine years on the Board. Sangita Shah and Dianne Walker appointed as independent non-executive directors.

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