Yu Group PLC - supplier of gas, electricity and water to businesses - Expects full-year financial results to be significantly ahead of market expectations. Says revenue, adjusted earnings before interest, tax, depreciation and amortisation and operational cashflow are expected to significantly exceed current guidance for 2022. Annual revenue is estimated at around GBP260 million, and Ebitda profitability is expected to "continue its strong trajectory" with the second half to exceed the 2.1% achieved in the first half, driven by "strong demand and the efficiencies of our digital by default transformation".
Adds that operational cash flow remains strong, supported by increased Ebitda and "robust customer collection performance".
In September, Yu had posted pretax profit of GBP5.5 million in the six months that ended June 30, up significantly from GBP1.1 million a year ago, as revenue doubled to GBP129.2 million from GBP65.8 million.
Current stock price: 391.00 pence, up 15% on Monday morning in London
12-month change: up 84%
By Xindi Wei; xindiwei@alliancenews.com
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Yu Energy (YU.)