Utilitywise staff opened the London Stock Exchange AIM market on the first day of trading in Utilitywise shares.
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Utilitywise was founded in 2006 as an energy procurement service provider for UK businesses. It has since grown and is now an established independent energy procurement and energy management business.
The Group has achieved strong revenue growth to date, seeing revenues rise from £11.7m in the financial year ended 31 July 2011 to £48.6m at financial year end 2014. This is a result of strong like for like growth and recent acquisitions of Clouds Environmental Consultancy, Aqua Veritas Consulting, Energy Information Centre and t-mac Technologies. Adjusted profit before tax rose from £7.4m in 2013 to £14.1m in 2014.
The Directors believe that the Group’s growth has been achieved as a result of its focus on three key areas: its investment in IT infrastructure, its focus on business process management and the development of its energy management products and services.
Utilitywise specialises in energy procurement and energy management services for businesses. The Company negotiates rates with energy suppliers on behalf of business customers, provides an account care service and offers a range of products and services designed to help customers manage their energy consumption. Customers are based throughout the UK and in the Republic of Ireland, across a variety of industry sectors and the public sector, and range in size from small single site customers to large multi-site customers.