News Column

Utilitywise Annual Revenue And Profit To Be In Line With Expectations

August 5, 2014

Anthony Tshibangu

LONDON (Alliance News) - Utilitywise PLC Tuesday said it expects to report its revenue and adjusted pretax profit for full year to July 31 in line with market expectations.

In a year-end trading update, the company said its revenue pipeline, representing revenue secured but yet to be recognised, amounted to GBP28.2 million at July 31, compared with GBP16.6 million a year earlier.

Financially, net cash balances at the year-end stood at USD9.7 million, ahead of market expectations, in part as a result of improved commercial terms with a number of energy suppliers.

Utilitywise said trading remains strong, and it is confident in its ability to deliver continued organic growth.

"The customer base continues to grow across all business units, and the group's new business run rate remains in line with management expectations," it said.

The company said it expects to announce its full results in the final week of October.

Utilitywise shares were quoted up 1.3% at 279.00 pence Tuesday morning.

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Source: Alliance News

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