Inspired Energy reports rapid growth in order book sales

Inspired Energy, a UK energy procurement consultant to UK corporates, said on Friday that the group has seen rapid growth in order book sales, with the first five months of 2012's order book sales being 63 per cent ahead of the same period in 2011.

This, the firm said, has seen Inspired's order book increase organically to £5.2m, an increase of £1.1m since admission at the end of November 2011.

"The increase in sales rate and, consequently, order book bodes well for future performance as the contracts begin to go live during H2 2012 and into 2013, providing an excellent financial platform for the group," the group commented.

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"The growth in order book sales has been driven by several factors. Inspired continues to grow its market presence within the industry and is seeing additional referred and introduced opportunities.

"In addition, the investment in the tele-marketing system has seen a marked increase in opportunities being turned into prospects and tenders. Finally, Inspired has accelerated the planned growth in the analyst and field sales team with the recruitment of several highly rated analysts from competitors such as Inenco and Ener-G who have already had a significant positive impact on sales throughout the period."

The company also said that the recently acquired DEP is performing in line with management's expectations and the integration process is on track.

The share price rose 7.69% to 3.5p by 13:42.

NR