Good Energy Group PLC – Unaudited Results
Good Energy Group PLC release un-audited Preliminary Results for the 12 months ended 31 December 2018.
Strong 2018 performance reaffirms resilience to changing and challenging markets.
100% renewable electricity supplier and localised self-generation power service provider, Good Energy Group PLC (“Good Energy” or “the Company”), today announces its preliminary results for the twelve months ended 31 December 2018.
|
Year ended 31 December |
2018 |
2018 |
2018 |
2017 |
% Change |
|
Revenue |
£116.9m |
£0.0m |
£116.9m |
£104.5m |
+11.9% |
|
Gross Profit |
£32.9m |
£0.5m |
£33.3m |
£29.3m |
+12.0% |
|
Administration costs |
£(26.8)m |
£(0.6)m |
£(27.4)m |
£(23.7)m |
+12.9% |
|
Operating profit |
£6.1m |
£(0.2)m |
£5.9m |
£5.6m |
+8.2% |
|
Profit before tax |
£1.7m |
£(0.2)m |
£1.6m |
£0.7m |
+132.6% |
|
Net Debt |
£40.1m |
– |
£40.1m |
£53.1m |
-23.1% |
|
Cash balance |
£15.7m |
– |
£15.7m |
£13.7m |
+14.2% |
|
Basic earnings per share (p) |
6.7p |
– |
5.4p |
8.1p |
-17.8% |
|
Full year dividend per share (p) |
3.5p |
– |
3.5p |
3.3p |
+6.1% |
Juliet Davenport, Founder and Chief Executive Officer of Good Energy, said:
“A period of rapid change is underway in the UK energy market. The trends in both the competitive landscape and the continuing renewable energy revolution leave us extremely well-placed to succeed. In a year where more than a dozen UK energy suppliers went bankrupt, Good Energy has continued to deliver robust growth and cash generation – putting the business on a firm footing for the future.
The year ahead will be an important one for us, as we roll out our SMART meter programme. Technology is changing everyone’s relationship with energy. People want to know how much they consume in their home and their business – how much they consume, and how much their home-generation equipment shares with the grid. Your home can become a miniature power station, with the right equipment in place.
The growth of electric vehicles is bringing smart-grid technology to the fore. Our recent investment in Zap-Map accelerates our presence in that market. Good Energy will continue to focus on profitable, sustainable growth – led by supplying power to businesses, and supported by digital investments.”