Preston-based Inspired Energy plc grows pre-tax profits to £2.18m

Energy procurement consultancy Inspired Energy plc has achieved double-digit profit and revenue growth.

For the six months ending June 30 2017, the Preston-headquartered company saw pre-tax profits rise year on year by 13% to £2.18m.

Revenues for the period stood at £12.24m, up 20% against the £10.16m reported in H1 2016.

The half year was characterised by the acquisition of firms Flexible Energy Management Ltd and Churchcom Limited, in addition to high profile appointments that included chief operating officer Mark Dickinson and non-executive director Richard Logan.

Inspired Energy also celebrated the “successful relocation and integration” of Informed Business Solutions Limited, which it acquired in September last year.

Inspired CEO Janet Thornton said of the results: “Inspired has delivered another period of strong growth on all fronts and the record results and performance once again demonstrate the commitment, drive and expertise of the whole team, which has now grown to 270 staff across the UK and Ireland.”

In July, the company announced its acquisition of Irish procurement consultant Horizon Energy Group, in a £9m deal funded through the placing of new shares.

Ms Thornton continued: “The announcement of the strategic acquisition of Horizon after the period end will provide a platform to leverage the capabilities of the group with the aim of becoming a market-leader in Ireland, and the net contribution from this and the two acquisitions in H1 enable us to look ahead into FY 2018 with even greater confidence.”