Inspired to post higher profit and debt after busy 2018

Mark Dickinson:  “excellent” 2018.

Third party intermediary Inspired Energy expects to post a 21% revenue increase and 22% rise in adjusted profit before tax for the full year 2018.

For full year 2017, reported group revenue stood at £27.46m, adjusted profit before tax at £9.7m.

In a trading update, the company said net debt is expected to be £24m, up 62% on 2017, reflecting a string of acquisitions made during the year.

Inspired acquired Systemslink 2000 and Energy Cost Management in March 2018, Squareone in August and Professional Cost Management Group in September. It completed the acquisition of Inprova for £19.5m at the end of December.

CEO Mark Dickinson said the group had an “excellent” 2018, with acquisitions and organic growth “materially” increasing the number of meters under management, and that it aims to cross sell services to clients increase revenue per meter.

Year end order book stood at £53 million (2017: £39 million).

The firm will post full year results on 27 March.

Related stories:

Inspired to buy Inprova

Inspired Energy buys PCMG

Inspired Energy buys fellow TPI Squareone

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