(MENAFN- ProactiveInvestors - N.America) Utilitywise (LON:UTW) which secures the best energy and water tariffs for business said it traded in line with forecasts in the first half with continued revenue growth from the UK and European arms.
The company said 'significant momentum has been achieved' in the past six months particularly in the enterprise division with the gross order book growing by 40mln in the six months to January 31. The revenue pipeline meanwhile was 24.7mln.
Utilitywise now employs 625 energy consultants (up from 449 at the halfway stage last year) and has 29288 customersjust over 7000 more than 12 months ago.
The firm has net debt of 10.4mln at the period end.
Chief executive Geoff Thompson said: 'We have made significant progress in the period and are well advanced in building our comprehensive energy solutions and services capability around our core procurement offering.
'In the second half we will further increase energy consultant numbers and focus on productivity initiatives to further support revenue growth.
'The rate of new customer acquisition has increased compared to extensions and renewals in line with management expectations.
'We also continue to make progress in aligning supplier commercial terms to improve cash conversion.
'As a result of the significant investment that we are making in the business we are pleased to be making real progress with a number of our strategic initiatives and expect to report both revenue and profits for the full year in line with management expectations.'
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