REG - Inspired PLC - Half year trading update and Notice of results

InspiredAnnouncement

09/08/2023 07:00

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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 (mailto: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
(https://url.avanan.click/v2/___https:/www.investormeetcompany.com/inspired-plc/register-investor___.YXAxZTpzaG9yZWNhcDphOm86ZTViYTMxN2Q4OTJjOWI3M2E2NWRhNTkyY2I0MTJkMWI6NjozMjk3OjYzNDdhODRjYTkwMmI0NzIzNjRkYThiM2YzNzc4ZDAyZmZiOTA0MWM3NTU4MjIxNDVkOGE5YWE4YTYwOTlkMzM6cDpU)

 

(*) The Company considers that the consensus forecasts for the year ended 31
December 2023 are revenue of £110.5m and Adjusted EBITDA of £24.2m.

 

 

 

Enquiries please contact:

 Inspired PLC                                        www.inspiredplc.co.uk

                                                   (https://url.avanan.click/v2/___http:/www.inspiredplc.co.uk___.YXAxZTpzaG9yZWNhcDphOm86ZTViYTMxN2Q4OTJjOWI3M2E2NWRhNTkyY2I0MTJkMWI6NjplNDhmOmIzYzU1YzJiMTU4NGU5ODExMDliZWQxYjYwNGI5NTQzMzUxYzY3NDE5NDc0YTFjZTUxYWEwMDBkZGIzZjhjMDM6cDpU)
 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)   +44 (0) 20 7408 4090

 Patrick Castle

 James Thomas

 Rachel Goldstein

 Liberum (Joint Broker)                              +44 (0) 20 3100 2000

 Edward Mansfield

 Satbir Kler

 Alma PR                                             +44 (0) 20 3405 0205

 Justine James                                       +44 (0) 7525 324431

 Hannah Campbell                                     inspired@almapr.co.uk (mailto:inspired@almapr.co.uk)

 Will Ellis Hancock

 

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