Utility supplier Yu energy sees revenues double and profits rise almost 400 per cent

A utility supplier to businesses has seen revenues double and profits rise almost 400 per cent.

Nottingham-based Yu Energy – which supplies gas, electricity and water to the UK corporate sector, and provides smart meter installation services – said revenues were £129 million in the first half of the year compared to less than £66 million in the first six months of 2021.

Meanwhile profits after tax rose from less than £1 million to £4.4 million for the same period. The business has a medium-term plan to hit annual sales of £500 million.