eaga in ‘confident’ mood
Article Date: Jan 29 2009‘Green’ support services group eaga has lifted interim pre-tax profits 20 per cent and expresses ‘confidence’ in the current outlook.
The fully listed company, Britain’s leading provider of residential energy ‘solutions’, made £17.4 million pre-tax in the six months to November on turnover 120 per cent up at £339.4 million. Chairman Charles Berry highlights record volumes of Carbon Emission Reduction Target (CERT) deliveries, increasing demand for fuel poverty programmes managed by eaga, notably ‘Warm Front’, and growth in outsourced contracts, for clients ranging from Scottish Power to the BBC.
Drawing encouragement from the present ‘focus on the environmental agenda and the drive towards a low-carbon economy’, berry sees enhanced growth opportunities for eaga, even against ‘the backdrop of turbulent wider economic conditions’. He says the current year continues ‘to progress in line with expectations’.
eaga shares, which fell from 227.25p to 93.75p between mid 2007 and last June, have rallied to 147.75p, valuing the company £370.25 million. They should make further progress.
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