LONDON (Alliance News) - Inspired Energy PLC on Wednesday said its revenue and profit grew significantly in 2018 due to acquisitions and strong performance of its Corporate unit.
The stock was trading 4.8% higher on Wednesday at 18.20 pence a share.
The energy procurement consultant reported annual pretax profit growth of 40% to GBP4.2 million from GBP3.0 million a year earlier, as revenue climbed by 24% to GBP32.7 million from GBP26.4 million.
"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," said Chief Executive Mark Dickinson.
Inspired Energy said the five acquisitions completed in 2018 were complementary to its Corporate division, broadening the service offering and customer base of the company and increasingly enabling it to benefit from operational leverage.
The Corporate order book has increased by 36% to GBP53.0 million as at December 31 from GBP39.0 million in 2017, the company added.
Inspired Energy declared full year dividend of 0.65p per share, up 18% from 0.55p paid the year prior.
"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," Dickinson said.
Inspired (INSE)