LONDON (ShareCast) - (Sharecast News) - Energy procurement consultant Inspired Energy saw profits soar in 2018 on the back of record revenues in its corporate division.
Inspired reported a 40% increase in pre-tax profits in 2018 to £4.2m, while group revenues improved 24% to £32.69m.

EBITDA was up 32% at £13.75m and diluted earnings per share were 43% higher to 0.53p.

The AIM-listed group's corporate division witnessed a solid 34% growth in revenues to £27.3m, making up a total of 84% of Inspired's entire group revenue.

Inspired's corporate order book expanded 36% to £53m thanks to "strong customer retention and robust performance from significant new customer wins."

Inspired also narrowed its net debt by an impressive 59% to £23.54m.

Elsewhere, Inspired wrapped up five strategic acquisitions during the year, further broadening its service offering and materially increased the level of the group's client meters under management.

Chief executive Mark Dickinson said: "We are delighted to deliver such a strong set of results for 2018. We accelerated our next growth phase with five complementary and value-enhancing acquisitions, whilst continuing to deliver sustained organic growth in the Corporate Division.

"Following an excellent 2018, we have had an encouraging start to 2019 and I am confident that the team will deliver another year of significant growth."

As of 1200 GMT, Inspired shares had climbed 5.04% to 18.25p.

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