Lancashire energy and technology services company predicting record revenue – Blackpool Gazette

New chief executive appointed for Lancashire law firm
Work starts on £300m Blackpool, Central visitor attraction
Inspired, formerly Inspired Energy, which has its headquarters in Kirkham, said that it expects to announce revenue growth ahead of market predictions in its final results for the year ending December 2021.
The firm said the positive results were driven by record growth in its energy optimisation in the fourth quarter of the year which resulted in a record revenue quarter for the division in Q4.
It said its EBITDA, earnings before interest, taxes, depreciation, and amortization – one measure of a company’s overall financial performance, was set to be in line with market predictions.
It said its group revenues were expected to be around 48 per cent higher than 2020‘s £46.1m, while group adjusted EBITDA is expected to be around 55 per cent ahead of 2020’s £12.8m.
The year-end corporate order book is expected to be £67.5 m
Underlying cash generated from operations increased significantly in the second half of 2021 to around £7m, while net debt at the year end was expected to be £32.7m.
The firm has embarked on a series of acquisitions of technology companies in recent years to broaden its portfolio and last year changed its name from Inspired Energy to Inspired, to reflect the expanded range of services it offers to companies and organisations.
It said the group was now structured across three divisions and four reporting segments, all underpinned by long term structural growth drivers:
Inspired Energy – Energy Solutions (comprising two reporting segments, Energy Assurance Services and Energy Optimisation Services).
Inspired Software – Software Solutions.
Inspired ESG – Environmental, Social, and Corporate Governance Solutions.
Mark Dickinson, chief executive of Inspired, said: “With the changing landscape, we are delighted to report on a period of strong growth at Inspired, both financially and operationally. The performance in 2021 reflects the continuing recovery in energy consumption, alongside a return to on site access to client premises, accelerating the delivery and implementation of energy optimisation services.
“We are encouraged by the current execution of the business plan within the ESG Solutions division, which is gaining good traction and we expect further progress during 2022.
“The transition to Inspired PLC has enabled us to strengthen our market position as we help our clients respond to the Climate Emergency whilst controlling their costs. Looking ahead, the Board remains confident in achieving its objective of evolving into the leading provider of services to help businesses respond to climate change and meet their net zero targets.”

source