Utilitywise improves FY pretax profit

Utilitywise has improved its FY pretax profit to £18.4m, from £14.1m. Total dividend was 6.5p a share, from 5.0p. Revenue was £84.4m, from £69.1m.

"I am very pleased with the progress we are making at building a capability that has no direct comparator in the Industry," said executive chair Geoff Thompson in a statement.

"The strength of the procurement offering has provided a great foundation to make significant investment in our wider Energy Services capabilities allowing the Group access to significant growth opportunities going forward.

"This period of investment has positioned us very well for strong and sustainable growth with our broadened and differentiated offering.

"Strong operating cashflow generation contributed to a much improved cash position at the year end and the 30% increase in the dividend for the full-year is a sign of the confidence with which we enter the new year."

Utilitywise separately said that CFO Jon Kempster has decided to step down from the board and leave the group. He is succeeded by Richard Laker. The company also confirmed Simon Waugh's appointment as a non-executive director and the senior independent director, effective from Nov. 1.