Utilitywise, a leading independent utility cost management consultancy, is pleased to announce its financial results for the six months ended 31 January 2015.
- Revenue increased 42% to £29.9m (H1 2014: £21.0m)
- Adjusted EBITDA* increased 42% to £7.7m (H1 2014: £5.4m)
- Adjusted Pre-tax profit** increase of 49% to £7.3m ( H1 2014: £4.9m)
- Adjusted fully diluted EPS*** increased 41% to 7.2p (H1 2014: 5.1p)
- Proposed interim dividend increased 55% to 1.7p (H1 2014: 1.1p)
- Net cash of £1.6m (H1 2014: (£0.1m))
*Adjusted for share based payments of £366k (H1 2014: adjusted for share based payments of £411k)
** Adjusted for share based payments of £366k and amortisation of IFRS3 intangibles of £531k (H1 2014: adjusted for share based payments of 411k and amortisation of IFRS3 intangibles of £452k)
*** Adjusted for share based payments of £366k (H1 2014: £411k), amortisation of IFRS3 intangibles of £531k (H1 2014: £452k) and the tax impact of those adjustments of (£162k) (H1 2014: £181k)
- Successful move to new corporate headquarters
- Energy consultants increased 29% to 449 (H1 2014: 347)
- Total group headcount up 16% to 884 (H1 2014: 761)
- New initiatives such as ESOS and water de-regulation in Scotland resourced to drive new revenue opportunities
Post period highlights
- Energy consultants increased to 549 (22% increase post period end)
- Total group headcount up 14% to 1,011
- Secured revenue as at 31 March 2015 at £26m
- Group customer numbers at 23,109 at 31 March 2015
- Acquisition of T-mac announced today
Geoff Thompson, Chief Executive of Utilitywise, commented:
“The Group has continued to make progress with impressive growth in both revenue and EBITDA. During the period, we both extended contracts for existing customers and continued to secure new customers, providing further validation of the strength of our proposition and the important differentiation we have achieved through the on-going development of our energy management products and services.
“The move to our new Head Office was completed on schedule and on budget in November 2014, enabling us to accelerate the recruitment of additional staff in order to drive future growth and the progress with this is in line with our plans. New customer acquisition remains an important priority and, in line with this, we are pleased to report that March 2015 represented the highest monthly customer acquisition performance for the Group in its history.
“A significant market opportunity exists for continued profitable growth and we look forward to a second half of continued positive momentum.”