Utilitywise share price dips despite reporting 25 per cent jump in profit

 
Hayley Kirton
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Doughnuts firm Krispy Kreme is one of Utilitywise's clients (Source: Getty)

Utilitywise has revealed an increase of profit before tax of 25 per cent to £16.7m for its year ended 31 July 2015.

Revenue for the utility manage­ment consultancy, which counts HSBC and Krispy Kreme as custo­m­ers, grew by 41 per cent to £69.1m.

Geoff Thompson, Utilitywise chief executive, told City A.M. that the company would now be focus­ing on organic growth and expanding its customer base.

However, Utilitywise “would never discount” further acquis­itions and that the firm “would remain alert to opportunities”.

It also named Brin Sheridan as chief operating officer, who will start his new role on 16 November. Sheridan, currently chief operating officer of The Energy Solutions Group, is the latest is a long-list of hires for the company.

Shares in the company were down by 0.57 per cent at the close.

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