A Lancashire energy company has reported revenues “above market expectations” at £7.6m as it continues to grow.
Kirkham-based Inspired Energy revealed the figures in a trading update for the financial year ended December 31, 2013.
The company, headed by Janet Thornton, said profit before tax was anticipated to be in line with market expectations.
Group revenues will be above market expectations at £7.6m, driven by strong growth in the group’s EnergiSave division, particularly in the last quarter of 2013.
EnergiSave was first established in late 2012 and focuses on providing SMEs with competitive energy contracts from a variety of suppliers.
Janet Thornton said: “I am proud of the group’s achievements over the past year which has seen a significant increase in business across the UK.
“Our core corporate division continues to perform very well and benefits from a very strong contracted order book in excess of £11m, which is testament to the hard work of the team which has delivered strong growth.
“Energisave, our new growth engine which target SMEs, has outperformed our initial expectations, and we are seeing accelerated growth continuing into the new year on this now strong platform of new customers.”
The contracted order book of its corporate division has risen to £11m as at December 31, 2013, representing a year on year increase of 24 per cent.
The corporate division made order book sales of £8.8m in the year to December 31, 2013, representing growth of 24 per cent.
When combined with the sales made by the EnergiSave division of £1.4m, the group made total committed sales in excess of approximately £10.2m in the year.