Utilitywise is a leading independent utility cost management consultancy offering energy procurement and energy management products and services to its business customers throughout the UK. The Company has established trading relationships with a number of the major UK energy suppliers. Utilitywise provides services to its customers designed to assist them in achieving better value from their energy contracts, reducing their energy consumption and lowering their carbon footprint. The Group operates from its headquarters at Cobalt Business Park in North Tyneside and currently employs approximately 1,000 staff across its operations.
Utilitywise is a leading independent utility cost management consultancy, providing market-leading energy services designed to assist its customers in achieving better value from their energy contracts, as well as enabling reduced energy consumption and a lower carbon footprint. The Group’s comprehensive offering services to c.29,000 clients from SMEs to multinationals across the UK and is expanding its services into Europe.
Founded in 2006 as a utility services broker, Utilitywise listed on AIM in 2012. Alongside its consistent revenue and profit growth, Utilitywise now occupies an unrivalled position in the market, yet a significant opportunity to expand still exists as every business has the potential to benefit from Utilitywise’s services. The Group has bolstered its expertise and offering through the acquisition of complementary businesses, such as Clouds Environmental Consultancy, Aqua Veritas Consulting, Energy Information Centre and t-mac Technologies. More recently, the Group announced a significant partnership with Dell to further advance its energy services offering.
Utilitywise is passionate about customer service and is proud to say that it saves its customers time, effort, and millions of pounds every year. The Group has a consistent focus on operational excellence and has implemented various strategies to demonstrate this, including investing in its Trusted Advisor position and a continued focus on the customer journey with the deployment of the Utility Management Plan. The Group’s consistently high Net Promoter Score is a testament to the hard work of its teams to ensure customer satisfaction.
With a strong management team in place, continual strategic enhancements to the business model being implemented, and robust financials, the Board is confident in its long term growth.
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.
Post period end highlights:
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.