Business
Preliminary Results
Preliminary Results.
About this update from Yu Group Plc
[{"type":"text","content":"\n \nRNS Number : 7672G Yu Group PLC 06 March 2018 \n\nYü Group PLC\n(the \"Group\")\nPreliminary results for the year ended 31 December 2017\nYü Group PLC, the independent supplier of gas and electricity to the UK corporate sector, announces its preliminary results for the year to 31 December 2017. \nFinancial Highlights:\n \n\n\n\n\n31 December\n\n\n2017\n\n\n2016\n\n\n\n\n\n\n\n£'000\n\n\n£'000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n46,961\n\n\n16,264\n\n\n\n\nOperating profit/(loss) before tax:\n\n\n\n\n\n\n\n\n\n\nAdjusted*\n\n\n3,136\n\n\n205\n\n\n\n\nStatutory\n\n\n2,296\n\n\n(1,518)\n\n\n\n\nOperating cash inflow/(outflow)\n\n\n533\n\n\n(870)\n\n\n\n\nCash\n\n\n4,887\n\n\n5,197\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEarnings/(loss) per share:\n\n\n\n\n\n\n\n\n\n\nAdjusted*\n\n\n17.0p\n\n\n1.0p\n\n\n\n\nStatutory\n\n\n13.0p\n\n\n(10.2p)\n\n\n\n\nDividend per share\n\n\n3.00p\n\n\n2.25p\n\n\n\n\n \n*Adjusted results are calculated before share based payments and unrealised gains on derivative contracts and, in 2016, IPO related costs.\n \n· Revenue almost trebled to £47 million compared to FY 2016 with a rapid increase in profitability\n· Achieved an adjusted operating margin of 6.7 per cent\n· Increase in contracted future revenue adding to the Group's high level of visibility:\no contracted revenue for the year to 31 December 2018 in excess of £50 million, with FY2019 revenue ahead of previous expectations\no revenues FY 2019 also is expected to be significantly ahead of current expectations\n· Proposed final dividend of 2.00 pence per share, making a total dividend for the year of 3.00 pence per share\n \n \nOperational Highlights:\n \n· New office opened in Leicester city centre to house increase in average staff levels from 58 to 86 employees in the 12 months to December 2017\n· Licence granted, in December 2017, to supply water to the corporate sector under the name Yü Water\n· Yü Group commenced trading as a gas shipper post year end to enhance gas margins and market access\n \nBobby Kalar, Group Chief Executive Officer, said:\n\"This has been a record year for the Group with substantial increases in b...