Yü Group, the independent supplier of gas and electricity to the UK corporate sector, has reported “significant growth” in revenue and profitability for 2023.
According to final audited results for the year to 31 December 2023, revenue grew to £460m, up from £278.6m in 2022, following strong sales bookings.
Profit before tax, meanwhile, increased to £39.7m, from £5.8m in 2022.
Bobby Kalar, Chief Executive Officer, said: “It’s been an extraordinary year and I’m very pleased with our strong performance, delivering another record breaking set of results.
“We have a strong forward order book which continues to build into 2024, and with this high degree of predictability, I remain confident in delivering another strong performance and continuing to deliver further shareholder value in 2024 and beyond.
“We’ve made significant strategic and operational progress. I’m very excited by the capability of Yü Smart and the value it creates for the Group. We have a transformational new commodity trading agreement with Shell, and all the foundations and digital-led systems in place to ensure continued growth.
“We are increasing our dividend payment to reward our loyal investors and we look forward to providing further growth in shareholder distributions.
“I’m grateful to the Board who continue to deliver the right blend of challenge and encouragement to me and my team.”
