15 Nov 2017 07:00
15 November 2017
Utilitywise plc
("Utilitywise" or the "Group")
Final results timing update
Utilitywise, the leading independent utility cost management consultancy, announces an update to the timing of the announcement of its full year results for the year ended 31 July 2017.
On 12 October 2017, the Group announced that further additional work was being carried out in respect of its year-end results and that it expected to announce those results on 21 November 2017.
As part of its audit procedures, the Group's external auditor, BDO LLP, has now requested that the Group obtains additional advice from an independent accounting firm in respect of the Group's estimation methodology for expected consumption levels on live contracts. As a result of this request, the Board has now appointed a third-party accounting firm to carry out that additional review. It is anticipated that the additional review will conclude in early December 2017.
Accordingly, the Group's year-end external audit process will not be completed before 21 November 2017 and, therefore, the year-end results will not be announced on that date.
A further update will be given, regarding a revised announcement date for the year-end results, once the independent review has been completed.
For further information
Utilitywise plc | 0330 303 0233 |
Brendan Flattery (CEO) |
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Richard Laker (CFO) |
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finnCap (NOMAD and broker) | 020 7220 0500 |
Matt Goode / Henrik Persson (Corporate Finance) |
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Simon Johnson (Corporate Broking)
Liberum (Joint broker) |
020 3100 2000 |
Robert Morton / Steve Pearce |
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Redleaf Communications | 020 7382 4747 |
Robin Tozer / Elisabeth Cowell |
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Utilitywise is a leading independent utility cost management consultancy, which has established trading relationships with a number of major UK and European energy suppliers and provides services to its customers designed to assist them in achieving better value out of their energy contracts, reduced energy consumption and lower carbon footprint.
Utilitywise is a UK company quoted on the AIM market of the London Stock Exchange. For more information, please visit www.utilitywise.com.