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Utilitywise sees 'significant' FY revenue growth despite challenges

Mon, 08th Aug 2016 08:35

(ShareCast News) - AIM-listed Utilitywise said on Monday that despite challenges in the period, revenue growth for the year to the end of July was expected to be "significant".In a trading update for the year, the company said it expects revenue of at least £82m versus £69.1m the year before.Adjusted group earnings before interest, tax, depreciation and amortisation is expected to be more than £18m compared to £17.8m in 2015, while net debt at year end was £200,000 versus £6.7m as progress with improved commercial terms in its Enterprise division yielded some improvement in cash flow. The utility cost management consultancy said its Enterprise division continued to grow its contracted customer base, with customer numbers up 21% to 30,552 and around 75% of revenues coming from new customers.Future secured revenue was £25.6m as at 31 July compared to £24.7m at the end of January.The company said that as announced at the half year, staff attrition has continued to be a challenge. Although the actions taken to address the staff attrition are well underway, it has had an impact on the performance of this Enterprise division in the period.Meanwhile, the Corporate division has traded "satisfactorily" and as with Enterprise, the business is going through a major transformation as it builds upon the t-mac acquisition to provide the wider Energy Services capability.Chief executive Geoff Thompson said: "Whilst we have seen significant revenue growth and increased customer numbers in the period, it has been a challenging year with staff attrition in the Enterprise division resulting in a weaker overall performance than we would have liked. "We continue to drive the transition within the two divisions and focus them on the longer term objective of building our Energy Services offering with a large customer base and adjacent revenue streams. The new management team will soon be complete and we look forward to the future with a great degree of confidence."At 0900 BST, shares were down 8.6% to 130.28p.

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22 Jan 2014 16:23

Utilitywise non-exec buys three million pound stake

A Non-Executive Director of Utilitywise, a cost management consultancy, on Tuesday acquired just over three million pounds-worth shares in the group. Jeremy Middleton, who co-founded emergency repairs business HomeServe, bought 1.15m shares at 260.22p a piece, significantly upping his stake to a t

22 Jan 2014 12:31

CORRECT: DIRECTOR DEALINGS: Utilitywise Non-Executive Buys 1.2 Million Shares

(Utilitywise has corrected the total shareholding of Jeremy Middleton.) LONDON (Alliance News) - Utilitywise PLC Wednesday said Non-executive Director Jeremy Middleton bought 1.2 million shares at a price of 260.2158 pence per share. Following this transaction, Middleton holds 1.8 mil

22 Jan 2014 11:20

DIRECTOR DEALINGS: Utilitywise Non-Executive Buys 1.2 Million Shares

LONDON (Alliance News) - Utilitywise PLC Wednesday said non-executive director Jeremy Middleton bought 1.2 million shares at a price of 260.22 pence per share. Following this transaction, Middleton holds 1.8 million shares, representing 0.88% of the share capital. Shares in the utilit

10 Dec 2013 16:17

Entertainment One Film President continues sale, Empresaria builds stake

Patrice Theroux, the President of Film at Entertainment One, has reduced his stake in the entertainment company with the sale of 259,538 shares. The shares were traded in at 239.25p a time for a total value of £620,945. The transaction followed two other share sales of 665,462 at 240.1p on Decemb

2 Dec 2013 16:16

Multiple sales for Entertainment One Chief

Darren Throop, Chief Executive Officer of Entertainment One, has sold four rounds of shares in the international entertainment company, reducing his stake by a total of 785,789 shares to 8.4m. While 69,239 shares were traded in at 239.2p each, the remainder were sold for 241.1p, earning Throop a to

27 Nov 2013 15:59

Coms Chief builds stake after 'significant' contract win

David Breith, the Chief Executive Officer of Coms, on Tuesday acquired 1.53m shares, which the same day climbed after the group announced a "significant" contract win. Breith bought the shares at 4.48p each for a total of £68,544. The telecommunications and information technology specialist has s

27 Nov 2013 10:54

DIRECTOR DEALINGS: Utilitywise Non-Executive Buys 119,050 Shares

30 Oct 2013 11:12

Utilitywise Shares Rise 7% As It Revises Upward Its Pretax Profit

15 Oct 2013 11:50

Utilitywise beats full year forecasts with energy to spare

First final results from corporate energy consultancy Utilitywise were comfortably ahead of forecasts, providing evidence of progress towards its goal of profitably consolidating a fragmented market. The AIM-listed company grew profits 81% before tax and acquisition-related costs to £7.0m on turnov

15 Oct 2013 08:36

Utilitywise Profits Buoyed By Increased Headcount And Contract Wins

8 Sep 2013 20:13

Sunday share tips: Vedanta, Highland Gold, Barratt

The Telegraph's Questor column said buy Vedanta. The natural resources group has completed a restructure that could bring $200m of tax savings. Analysts at Liberum Capital also think the fall in the value of the Indian rupee could boost EBITDA by $455m if the decline persists to the end of the year.

13 Jun 2013 07:01

Thursday broker round-up UPDATE

African Barrick Gold: Citi moves target price from 175p to 124p and maintains a sell recommendation. ASOS: Nomura raises target price from 2970p to 3400p keeping a neutral rating. Exane increases target price from 4200p to 5000p and retains its outperform rating. Citi ups target price from 4400p to

21 May 2013 07:12

Tuesday broker round-up UPDATE

Antofagasta: Canaccord Genuity reduces target price from 1065p to 1040p, while leaving its hold recommendation unchanged. Barratt Developments: Goldman Sachs takes target price from 351p to 371p maintaining a buy recommendation. Big Yellow Group: Investec increases target price from 370p to 430p a

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