Inspired PLC Half year trading update and Notice of results (7108I)
August 09 2023 - 2:00AM
UK Regulatory
TIDMINSE
RNS Number : 7108I
Inspired PLC
09 August 2023
9 August 2023
Inspired PLC
("Inspired" or the "Group")
Half Year Trading Update and Notice of Results
Good H1 performance provides confidence in full year market
expectations
Inspired (AIM: INSE), a leading technology enabled service
provider supporting businesses in their drive to net-zero and
controlling energy costs, provides an update on trading for the
six-month period ended 30 June 2023.
The Group made good progress in the first half of the financial
year, with the momentum from Q1 continuing into Q2; as a result,
the Board expects to report robust results for the period ended 30
June 2023. Given this half-year performance and current trading,
the Board remains confident in delivering market consensus* for the
full year 2023.
Each of the Group's four divisions are trading well, with
Optimisation and ESG delivering particularly strong revenue growth.
Optimisation continues to benefit from cross selling and a strong
step up in demand, with clients focussing on the beneficial impacts
of energy reduction and delivering net-zero. ESG has delivered
another exceptional performance, with good progress increasing the
lifetime value of existing clients and adding new clients to the
Group. Assurance continues to see momentum in new business
generation, with retention rates recovering. Software continues to
deliver growth and underpins the Group's broader service
delivery.
Group net debt remains in line with management's expectations
following the forecast payment of performance related cash
contingent consideration in H1, and the Group is confident of
achieving a cash conversion ratio in excess of 80% in FY23.
Mark Dickinson, CEO of Inspired PLC commented: "Managing energy
costs and ESG have now become firmly embedded as operationally and
commercially critical for most businesses. This is creating
sustained and increasing demand for Inspired's differentiated
products and services. We are better placed than ever as a
full-service provider, reflected in the growth we are seeing in the
Optimisation Services and ESG divisions in particular. We head into
H2 with a strong pipeline and a growing orderbook, underpinning our
confidence for the full year and beyond."
Notice of Results
Inspired will announce its unaudited half year results to 30
June 2023 on 11 September 2023.
Analyst Presentation
An analyst briefing call will be held at 9 a.m. on the morning
of the results and those analysts wishing to join the presentation
can register for details via inspired@almapr.co.uk
Retail Investor Presentation
A presentation to retail investors will be hosted on Monday, 11
September 2023 at 4.30 p.m. via the Investor Meet Company platform.
The presentation is open to all existing and potential
shareholders. Questions can be submitted pre-event via the Investor
Meet Company dashboard up until 9.00 a.m. the day before the
meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add
to meet Inspired plc via:
https://www.investormeetcompany.com/inspired-plc/register-investor
(*) The Company considers that the consensus forecasts for the
year ended 31 December 2023 are revenue of GBP110.5m and Adjusted
EBITDA of GBP24.2m.
Enquiries please contact:
Inspired PLC www.inspiredplc.co.uk
Mark Dickinson (Chief Executive Officer) +44 (0) 1772 689250
Paul Connor (Chief Financial Officer)
David Cockshott (Chief Commercial Officer)
Shore Capital (Nominated Adviser and
Joint Broker)
Patrick Castle
James Thomas
Rachel Goldstein +44 (0) 20 7408 4090
Liberum (Joint Broker)
Edward Mansfield
Satbir Kler +44 (0) 20 3100 2000
Alma PR +44 (0) 20 3405 0205
Justine James +44 (0) 7525 324431
Hannah Campbell inspired@almapr.co.uk
Will Ellis Hancock
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END
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