Last checked at 9 Oct 2019 07:00
Good Energy Group PLC
Clarification of unaudited interim financial results for period ended 30 June 2019
Further to the interim financial results for the period to 30 June 2019, published on 10 September 2019, Good Energy Group PLC ("Good Energy" or "the Company") announces that there was a misclassification of an amount of £4.9m within cash and cash equivalents and other current assets and liabilities on the balance sheet.
Good Energy confirms that there is no impact on either the total net asset position, nor on earnings, and management's view of the current financial performance of the business and financial outlook is unchanged.
The misclassification was due to the timing of payments during the normal course of business. Despite there being no impact on the total net asset position, the Board of Good Energy has decided that this announcement is the most prudent and transparent course of action.
The unaudited balance of cash and cash equivalents at 30 September 2019 was £20m, in line with management expectations.
The updated financial statements will be released and published on our website this morning - https://group.goodenergy.co.uk/home/default.aspx.
Enquiries:
Good Energy Group PLC Juliet Davenport, Chief Executive Charles Parry, Investor Relations
| Via Walbrook PR |
Investec Bank plc (Nominated Adviser) Jeremy Ellis Sara Hale
| Tel: +44 (0) 20 7597 5970 |
Walbrook (Financial PR) Nick Rome Tom Cooper
| Tel: +44 (0) 20 7933 8794 Mob: +44 (0) 7748 325 236 GoodEnergy@walbrookpr.com |
Notes to editors:
About Good Energy www.goodenergy.co.uk
Good Energy was founded in 1999 by Juliet Davenport OBE with the ambition to tackle climate change by generating and investing in renewable energy. Its purpose is to power the choice of a cleaner, greener future together with its customers, employees and investors.
Since it started, the company has been supplying clean power, sourced from its own generation assets as well as from independent, UK-based renewable generators. Good Energy also pioneered a more localised approach to energy by supporting home generation, launching the HomeGen scheme in 2004, which became the blueprint for the Feed-in Tariff.
Today, it continues to support and invest in localised energy generation, as the only UK energy company with more home-generation customers than supply. From using digital innovation to help UK households and businesses manage their energy usage more efficiently, to empowering more people to generate, store and share clean power, it is leading the charge towards a cleaner, distributed energy system.