Tuesday, August 16, 2022

Yü Group reports “strong start to the year”

Yü Group, the supplier of gas, electricity and water to the SME and Corporate sector, has reported a “good start to 2021, with continued momentum from FY2020 and overall company performance in line with expectations.”

Average Monthly Bookings for the four months to 30 April 2021 are £7.2m, representing an increase of 26% compared to the same period in 2020.

The company said it is encouraged by the UK Government’s roadmap out of lockdown and signs of improvement in the economy, helping alleviate some of the broader market uncertainty. Yü Group noted it will, however, continue to remain vigilant and prepared for all future scenarios.

Bobby Kalar, Chief Executive Officer, said: “I am pleased to report a strong start to the year, with Group performance delivering in line with expectations. Positive momentum continues as we see improved booked revenue in the first four months of 2021 compared to the same period last year.

“Our strategy is working well and as such the Board is confident that the business is on track to deliver its operational targets and to report profitable growth in FY2021.

“The Group has a strong balance sheet and our strategic value enhancing acquisitions plan forms part of our ambitious scaling strategy. The Group acquired two cash generative customer books in 2020 and successfully integrated circa 5,000 meter points quickly and seamlessly.

“As the market consolidates further, and with a compelling pipeline of opportunities, I am confident the Group is well placed to continue acquiring value creating opportunities where they meet our strategic criteria.

“I am pleased to be able to look forward to the future with confidence. From the ‘hard yards’ of recent times I see good times ahead.”

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