LONDON (Alliance News) - Utility cost management consultancy Utilitywise PLC Wednesday said its revenues and adjusted pretax profit were slightly above management expectations in the first half of its financial year and well above year-earlier levels.
In a trading update, the company said the value of contracts secured, but not yet live, stood at a record GBP23.8 million at the end of January, up from GBP18.2 million at the end of September.
"The company has performed well in the first half of the year, with a significant increase in both revenue and adjusted profit before tax on the previous year. We look forward to the remainder of the year with confidence," Chief Executive Geoff Thompson said.
Utilitywise reported a 44% rise in revenue to GBP10.2 million in the first half of its last financial year, while its pretax profit, adjusted for share-based payments, fell to GBP2.1 million, from GBP2.6 million a year earlier.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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