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Yu Group PLC on Tuesday reported the expansion of its forward contract book despite declines in wholesale energy prices, as it posted half-year revenue and profit gains. The Nottingham, England-based independent supplier of gas and electricity reported pretax profit of £22.6 million for the six months to June 30, up 14% from £19.8 million a year earlier. Driving the improved earnings was a 9.1% advance in revenue to £341.0 million from £312,7 million, as Yu noted strong organic meter growth. However, it said this was partially offset by an expected normalisation of the commodity market. Yu declared an interim dividend of 22 pence per share, up 16% from 19p. Chief Executive Bobby Kalar described the group’s interim performance as ‘resilient’, noting that it landed in line with managements expectations. Looking ahead, Yu said it remains on target to deliver earnings before interest, tax, depreciation and amortisation, and adjusted earnings per share, in line with market expectations. Yu did not detail the market consensus for the full-year. It added that this would be against a backdrop of normalising energy wholesale prices, along with a more competitive pricing environment. Shares in Yu Group were 2.0% lower at 1,509.00 pence each on Tuesday morning in London. On Tuesday, Yu also confirmed the appointment of Andy Simpson as chief financial officer. Simpson has replaced Paul Rawson as finance chief, with the succession plan initially communicated back in July. Kalar continued: ‘Meter point growth has remained strong, supporting our operational momentum and strengthening our position in the market. ‘Strong cash generation during the period has enabled further material dividend growth whilst retaining ample earnings coverage, reinforcing our confidence in delivering against our targets. Our forward contract book continues to expand despite recent declines in wholesale energy prices, providing a solid platform for the remainder of the year and beyond.’ Contracted revenue for the next financial year rose 15% to £481 million from £417 million. In aggregate, it advanced 24% to £1.17 billion from £945 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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