Yu Energy said sales and profits rose by more than 70 per cent last year with further opportunities ahead in the £50 billion-plus commercial utility market.
The business, which supplies gas, electricity and water to UK companies and provides smart meter installation, said it had also seen a “very strong start” to the current year despite severe market challenges such as the consequences of the pandemic and war in Ukraine.
The company said revenues jumped because of the new smart meter operation and rising energy costs. Energy prices, it said, had now “normalised thanks to unusually warm temperatures across Europe, a slight increase in available gas storage levels and relatively lower seasonal demand”, but sales were still expected to rise, partly through new services.
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