Eneraqua Technologies PLC - London-based energy and water efficiency solutions provider - Posts pretax profit of GBP9.9 million for the year ended January 31, up markedly from GBP4.1 million the year before. Revenue is up 52% to GBP55.1 million from GBP36.2 million the year before. In March, the company said market forecasts had predicted revenue to be in the range between GBP61.3 million to GBP61.5 million.

Eneraqua explains that growth was driven by repeat customer orders, new client wins, geographic expansion, and the entering of new markets. Earnings before interest, tax, depreciation and amortisation jumps to GBP11.7 million from GBP5.6 million the year before. The company increases its full-year dividend by 20% to 1.2p from 1.0p. Looking ahead, Eneraqua says it has a "record order book" of GBP130.4 million. About 62% of the order book is currently anticipated to be delivered in financial 2024.

Chief Executive Officer Mitesh Dhanak says: "FY23 was another year of solid progress for Eneraqua, as the group successfully executed against its growth strategy. Within the context of the energy crisis and wider macro-economic uncertainty, Eneraqua, thanks to the hard work of our team, has in many cases exceeded the board's expectations and continued to deliver cutting edge clean-tech technologies and solutions to customers, globally."

Current stock price: 160.00 pence each, down 38% on Tuesday morning in London

12-month change: down 36%

By Xindi Wei, Alliance News reporter

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