LONDON (Alliance News) - Good Energy Group PLC said Thursday it is "well positioned" to face the shift in the energy market as it expects profit to be weighted towards the first half of 2018.
The energy company expects 2018 to be a year of progress with profit to be weighted toward the first-half due to the recent "unseasonably cold" winter and due to increased investments it plans to make in the second-half.
In their annual general meeting statement, Chief Executive Officer Juliet Davenport and Chairman John Maltby said that Good Energy is investing in technology and strategic partnerships.
In technology, the company will deploy the SMETS2 metering system allowing customers greater insight and control over their energy use.
Through a series of partnerships in both academia and business, Good Energy said it has "developed a platform to accelerate innovation and bring new products and services to market".
"Energy, or rather the consumption and control of it, is shifting. It is not simply about the proliferation of new energy suppliers and tariffs; it is about the way we use and generate energy in our own homes and businesses," Davenport and Maltby said.
"Good Energy is well-positioned for this new market."
The company said retail customer numbers have remained stable in the year to date.
The sale of Good Energy's large-scale solar energy asset remains on track to be completed later this year, it said.
Good Energy shares were untraded at 147.50 pence each.
Good Enrg (GOOD)