LONDON (ShareCast) - (Sharecast News) - Renewable energy group Good Energy said on Friday that it traded slightly ahead of management expectations in the 10 months to the end of October, with continued strong cash generation.
The company, which supplies 100% renewable electric and green gas to homes and businesses, said it has made good progress in delivering its strategic priorities since its interim results through sustained business volume growth and continued investment in the new marketing campaign, customer services, IT capabilities and new product development.

Customer numbers during the period remained broadly flat and the group now has a four-star rating on Trustpilot. Billing performance remains at over 99% and customer debt and accrued income continues to be maintained at normalised levels.

Good Energy said these process improvements have delivered a "significant" increase in cash and cash equivalents since the half year.

The company continues to expect a full-year financial performance in line with market expectations assuming normalised consumption and weather for the rest of the year.

Founder and chief executive Juliet Davenport said: "We are delighted with the continued progress of the business and delivery of our core strategic objectives. The investment in our customer services team is having an immediate impact, reflected by the significant increase in our Trustpilot score since the summer.

"The launch of our new marketing campaign comes at a time of increased awareness in both renewable energy and individuals looking for a way to make a difference. We believe that making it easier for people to choose clean energy is key to our long-term ability to tackle climate change as a nation.

"Despite the challenges facing the energy sector, we are excited to continue our progress into 2019 and beyond as we look to make clean energy the natural choice for the population."

At 0920 GMT, the shares were up 9% to 97p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE