27 October 2015 – final results
The utility cost management consultancy has announced its annual results to 31 July which have shown strong growth across all key financial metrics. Revenue has risen by 41% to £69.1m (2014: £48.9m) with adjusted pre-tax profits increasing by 25% to £16.7m (2014: £13.4m) and diluted earnings per share on the same basis being 28% higher at 17.9p (2014: 14.0p). The dividend for the year was raised by 25% to 5.0p (2014: 4.0p). As can be seen from these results, the group has enjoyed strong revenue and profit growth as it has continued to invest in its multi-channel routes to its customers. The company now has in excess of 27,000 UK customers and over 4,000 in Europe and the acquisition of t-mac Technologies in April has been successfully integrated and is performing well. Net debt at the end of the year was £6.7m. An upbeat statement about prospects accompanied the results and we maintain our recommendation of BUY.