2 Feb 2018 07:00
2 February 2018
Utilitywise plc
("Utilitywise" or "the Group")
Half-year net debt
Utilitywise plc (AIM:UTW), a leading independent utility cost management consultancy, announces that its closing net debt as at 31 January 2018 was £15.0 million. This represents a £4.0 million (21%) reduction in the Group's net borrowings position since 31 July 2017, as a result of the cash generation of the Group during the first half of its financial year ended 31 July 2018 ("FY18").
The closing net debt of £15.0 million comprises £11.9 million of net bank borrowings and £3.1 million of other loans.
The £11.9 million of net bank borrowings is funded by a bank facility of £25 million.
The £3.1 million of other loans are due for repayment between 2018 and 2022.
A further update regarding trading in the first half of FY18 will be given in due course.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
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 3757 6865 |
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.
Utilitywise (UTW)