Record results for Kirkham-based national energy team

Kirkham-based energy procurement specialist Inspired Energy has seen its profits rise in what bosses say has been another record year.

Wednesday, 27th March 2019, 10:09 am
Updated Wednesday, 27th March 2019, 10:18 am
Mark Dickinson CEO of Inspired Energy

The annual results co-incide with the stepping down as non-executive director of Matthew Thornton husband of the firm’s founder Janet Thornton.

She had started the firm in 2000 and herself stepped down in October 2017.

Chairman Mike Fletcher Mr Thornton for his contribution over 18 years.

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He said: “Matthew was a member of the Board on the IPO of the business on AIM in 2011 and has been an intrinsic part of the Group’s success to date.”

Today the AIM listed firm announced a 40 per cent rise in pre-tax profit from £2.99m to £4.2m with revenue up 24 per cent from £26.36m to £32.69m.

It also saw its corporate order book rise 36 per cent from £39m to £53m.

The firm completed five acquisitions in 2018, Inprova Finance Ltd, Squareone Ltd and Professional Cost Management Group Ltd, SystemsLink 2000 Ltd and Energy Cost Management LTD.

Chief executive Mark Dickinson said: “We are delighted to deliver such a strong set of results for 2018. We accelerated our next growth phase with five complementary and value-enhancing acquisitions, whilst continuing to deliver sustained organic growth in the Corporate Division.

“Our acquisitions have further broadened our service offering and materially increased the level of the Group’s client meters under management. We continue to systematically engage with clients to quantify cross-selling opportunities and increase the accessible revenue at each meter point.

“Ensuring we continue to evolve our services for our clients is a key focus for the business, simultaneously broadening the service offering we provide and optimising the value of every pound our clients spend on utilities, so that they can focus on running their businesses.

“Following an excellent 2018, we have had an encouraging start to 2019 and I am confident that the team will deliver another year of significant growth.”

The board is now made up of two executive directors, supported by a non-executive chairman and two independent non-executive directors.