Inspired PLC on Wednesday said it delivered a ‘strong’ trading performance in 2023, with its adjusted earnings set to meet market expectations.
The Preston, Lancashire-based England-based energy advisory and sustainability services provider said it expects revenue for full year to be around 11% higher at £98.7 million from £88.8 million in 2022.
Adjusted earnings before interest, tax, depreciation and amortisation is expected to be 19% higher at £25.0 million, meeting market expectations, from £21.0 million in 2022.
Adjusted pretax profit is set to meet analyst consensus of £16.2 million. This is an increase from £14.0 million in 2022.
Looking ahead, Inspired said it expects momentum to continue, and it is confident it will maintain its goal of double-digit organic growth.
Chief Executive Officer Mark Dickinson said: ‘The group delivered a solid operational and financial performance during the year, with adjusted Ebitda and [profit before tax] in line with market expectations, with a continued focus on cash generation.
‘Managing energy costs and [environmental, social and corporate governance] have now become firmly embedded as operationally and commercially critical for most businesses. This is creating sustained and increasing demand for Inspired’s differentiated products and services. We are better placed than ever as a full-service provider and are confident of future success and in our outlook for [2024] on the back of momentum in [2023]’.
Inspired shares were up 4.8% to 77.03 pence around midday on Wednesday in London.
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