Last checked at 29 Jun 2012 07:00
29 June 2012
Inspired Energy plc
("Inspired" or the "Group")
AGM Statement and Trading Update
Inspired Energy plc (AIM: INSE), a leading UK energy procurement consultant to UK corporates, will hold its Annual General Meeting today at 2pm. At the meeting Bob Holt, Chairman, will issue the following update on current trading.
"During the first half of 2012, the Group has seen rapid growth in order book sales*, with the first five months of 2012's order book sales being 63% ahead of the same period in 2011**. This has seen Inspired's order book increase organically to £5.2 million, an increase of £1.1 million since admission at the end of November 2011. The increase in sales rate and, consequently, order book bodes well for future performance as the contracts begin to go live during H2 2012 and into 2013, providing an excellent financial platform for the Group.
"The growth in order book sales has been driven by several factors. Inspired continues to grow its market presence within the industry and is seeing additional referred and introduced opportunities. In addition, the investment in the tele-marketing system has seen a marked increase in opportunities being turned into prospects and tenders. Finally, Inspired has accelerated the planned growth in the analyst and field sales team with the recruitment of several highly rated analysts from competitors such as Inenco and Ener-G who have already had a significant positive impact on sales throughout the period.
"Inspired is also pleased to announce two senior appointments, Andrew Stubbs and Nick Campbell. Andrew and Nick bring substantial industry knowledge and expertise and will provide significant benefit to the Inspired trading and risk management team. They are working to expand the range of service lines that Inspired offers its customers and increase the breadth of the revenue streams within the Group. Following their appointments, along with the accelerated growth in the analyst and field sales team, Inspired believes it has the team in place to deliver strong and sustainable growth over the short, medium and long term.
"The acquisition of DEP which completed on 16 April 2012, is performing in line with management's expectations and the integration process is on track."
Notice of interim results
The Company expects to announce its unaudited half year results to 30 June 2012 on 28 August 2012.
* Order book sales represent signed contracts between and Inspired client and an energy supplier for an agreed volume of gas or electricity, for which an agreed rate of commission is due to Inspired
** Stated on a like-for-like basis prior to the impact of the acquisition of Direct Energy Purchasing Limited
Enquiries:
Inspired Energy plc Janet Thornton, Chief Executive David Foreman, Finance Director
| +44 (0) 1772 689250
+44 (0) 7717 707 201 www.inspiredenergy.co.uk |
Shore Capital Bidhi Bhoma Edward Mansfield
|
+44 (0) 20 7408 4090
|
Gable Communications Justine James John Bick
| +44 (0) 20 7193 7463 +44 (0) 7525 324431 inspired@gablecommunications.com |
Notes to editors
Inspired Energy plc is an energy procurement and management business which was founded in 2000 by Managing Director, Janet Thornton. Through optimising energy procurement on behalf or its clients Inspired enables its clients to achieve greater certainty of their energy costs and in many cases delivers significant savings. The Inspired Group, including recently acquired Direct Energy Purchasing Limited, currently manages and negotiates c980 gas and electricity supply agreements on behalf of c560 customers across the UK in a broad range of sectors.