Utilitywise plc (AIM: UTW), a leading independent utility cost management consultancy, is pleased to announce its audited full- year results for the year ended 31 July 2016.
|Profit before tax**||17,769||16,662||+7%|
|Diluted earnings per share#||18.5p||17.9p||+3%|
|Total dividend for the year||6.5p||5.0p||+30%|
- 35% growth in Enterprise UK and Ireland order book additions to £84.5m, driven by productivity gains and multi-channel strategy
- Improved supplier terms lead to a substantial improvement in net debt
- UK and Ireland customer numbers increased 23% to 32,000
- International customer numbers increased 49% to 6,500
- Partnership agreement signed with Dell to advance Energy Services offering
Post period end highlights:
- Energy consultant headcount increased to 637 as at 30th September 2016
- Future secured revenue as at 30 September 2016 – £28.3m
- Appointment of Brendan Flattery as Group Chief Executive
Geoff Thompson, Executive Chairman of Utilitywise, commented:
“I am very pleased with the progress we are making at building a capability that has no direct comparator in the Industry. The strength of the procurement offering has provided a great foundation to make significant investment in our wider Energy Services capabilities allowing the Group access to significant growth opportunities going forward. This period of investment has positioned us very well for strong and sustainable growth with our broadened and differentiated offering. Strong operating cashflow generation contributed to a much improved cash position at the year end and the 30% increase in the dividend for the full-year is a sign of the confidence with which we enter the new year. I welcome Brendan Flattery to the CEO role and look forward to working with him.”
Brendan Flattery, Chief Executive of Utilitywise, commented:
“I have had a very enjoyable and positive first couple of weeks in the business, meeting over 1,000 colleagues, and engaging with many customers and partners in that short time. It is clear that we have a fantastic opportunity to build on the strong business that Geoff founded and built in the last ten years. I am looking forward to driving a new wave of innovation, bringing new products, services and technologies to life that enhance our strong procurement proposition, add value to customers, create direct relationships and differentiate the Utilitywise brand.”
* Excluding share based payment expenses of £0.6m (2015: £0.7m), exceptional items relating to acquisition costs of £nil (2015: £0.6m), legal, restructuring and re-organisation costs of £1.2m (2015: £0.2m), exceptional impairment of goodwill £1.3m (2015: £nil) and exceptional credit of £5.7m (2015: £0.2m) relating to the release of a contingent consideration (2015: relating to the release of a brought-forward provision).
** As above, and excluding amortisation relating to acquired intangibles of £1.9m (2015: £1.2m)
# As above, and including the tax impact of the above adjustments.
For further information:
|Utilitywise PLC||0330 303 0233|
|Geoff Thompson (Executive Chairman)|
|Brendan Flattery (Chief Executive Officer)|
|Jon Kempster (CFO)|
|finnCap (NOMAD and joint broker)||020 7220 0500|
|Matt Goode / Grant Bergman (Corporate Finance)|
|Simon Johnson (Corporate Broking)|
|Liberum (Joint broker)||020 3100 2000|
|Robert Morton / Steve Pearce|
|Redleaf Communications||020 7382 4730|
|Rebecca Sanders-Hewett / David Ison / Susie Hudson|
Utilitywise is a leading independent utility cost management and services consultancy based in Newcastle. The Group 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.