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Sureserve Group PLC on Tuesday reported double-digit rises in both annual revenue and profit, building on continued momentum as it remains confident for the next financial year.
Sureserve is a Basildon, Essex-based compliance and energy services provider, focused on the UK public sector.
For the financial year that ended on September 30, revenue increased by 27.0% to £275.1 million from £216.6 million the year before. Order book rose 18.0% to £593.5 million from £502.9 million.
Pretax profit rose 41% to £15.6 million from £11.1 million, as operating profit increased by 36% to £16.4 million from £12.1 million the year before.
Earnings before interest, tax, depreciation and amortisation is up 37% to £16.8 million from £12.3 million.
Chief Executive Officer Peter Smith said: ‘I am pleased to report a year of progress at Sureserve building on last year’s momentum to achieve strong increases in revenue and profits. Our order book of £593.5 million is a tremendous asset, providing a clear line of sight of future revenues, and the shift to longer term contracts that we have seen gives us confidence in the year ahead and beyond.’
Looking ahead, Sureserve said it is confident in the outlook for financial 2023, saying its good momentum has continued with a good start into the new year. It expects 79% of financial 2023 revenue to be covered by the order book at the start.
Sureserve shares are up 3.4% at 87.40 pence each on Tuesday around midday in London.
By Xindi Wei, Alliance News reporter
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