Yü Group, the independent supplier of gas, electricity, meter asset owner and installer of smart meters to the UK corporate sector, is expecting to report results substantially ahead of current market expectations following a strong first half.
In a trading update for the six months ended 30 June 2023, the company hailed accelerating revenue growth and record monthly bookings of £51.3m, up 109% on 2022.
Bobby Kalar, Chief Executive Officer, said: “We are delighted to have accelerated our strong trading momentum and our growth continues to surpass expectations. We continue to deliver strong financial performance as more customers lock in the benefit of a softening commodity market.
“Alongside this growth and underpinned by our ‘Digital by Default’ platform and Smart Meter installation business we see revenue and profitability growth in FY 23 and beyond. We are as excited as ever about the future of Yü Group and remain focussed on exceeding our previously stated £500m revenue target and increased 5% EBITDA margin.”
