Member Article

Utilitywise revise up revenue and profits

South Shields-headquartered Utilitywise has revealed a further £430k in revenue after revising its preliminary results, published earlier this year.

The booming energy consultancy grew like-for-like revenue by 61% in the year until the end of July 2013, owing to the addition of 100 staff since 2012.

Profits were revised up from £6.98 million to £7.4 million following talks with the firm’s auditors.

During the year Utilitywise went on the acquisition trail snapping up UK firms including Clouds Environmental Consultancy Ltd, Aqua Veritas Consulting Ltd and Energy Information Centre Ltd to bolster their portfolio of services.

Renowned North East entrepreneur and venture capitalist, Jeremy Middleton recently joined the Utilitywise board along with Jon Kempster, most recently group finance director at Wincanton plc.

Geoff Thompson, chief executive of Utilitywise, said: “Our first full year as a plc has proved a very successful one. As well as delivering very strong organic growth we have been able to invest and build for the future. Integration of the three businesses that we acquired is progressing well and we have entered the new financial year with an improved suite of products and services to satisfy the wider energy needs of all businesses, regardless of size.

“The market in which we operate remains highly fragmented and we have still attracted only a very small percentage of our addressable market. Through our strong relationships with energy supply companies and our ability to identify customers and deliver the optimum solutions, we remain confident in the continued success of the Company.”

This was posted in Bdaily's Members' News section by Tom Keighley .