Utilita Group Ltd (UGL) is pleased to report that turnover has increased by 52% - from £271m to £411m.
Operating profit (before tax), from 1 April 2016 to 31 March 2017 was £20.2m, a period when Utilita Energy Ltd (UEL) was confirmed as Britain’s fastest growing independent energy supplier•.
UGL’s net assets now stand at nearly £32m.
The period saw UEL’s customer base increase by 177,000 - from 320,000 to 497,000 - with supply points jumping to 936,000 - up from 617,000.
That figure has since surpassed 560,000 households and one million supply points.
Average staff numbers also significantly increased - from 279 to 659 (a figure that has more than doubled again since) in part due to the company’s first ever acquisition, of Chesterfield call centre specialist bvocal, which employed 300 people.
Bill Bullen, Chief Operating Officer UGL, said: “The period has seen unprecedented growth across the business with staff numbers more than doubling, turnover up 52% and customer numbers reaching half a million.
“We are continuing to show how new entrants can be sustainable, competitive and profitable, while still giving customers value for money and good service.
“While we achieved a very healthy profit, it was down 20% on the previous year – this points to potentially tough times ahead due to an increasingly competitive market and a very tough regulatory environment.
“However, I am confident we are in a very strong position to continue to grow the business and give Britain’s hard pressed families a fairer energy deal.”
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