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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Flowgroup | LSE:FLOW | London | Ordinary Share | GB00B19H7076 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0145 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFLOW
Flowgroup plc
31 March 2015
RNS REACH
31 March 2015
Flowgroup plc
("Flowgroup" or the "Company")
Growth of energy business
Flowgroup plc (AIM: FLOW), which develops and commercialises alternative and efficient energy technology products, announces that its home energy business, Flow Energy, will re-enter the UK energy market on 7 April 2015 with a competitive tariff, with the aim of growing its customer base.
Flow Energy originally entered the energy market in 2013. It has attracted 66,000 customer accounts since launch and its current customer base generated GBP33m revenue in 2014.
Flow Energy will re-enter the market with the Connect Tariff, which will offer fixed prices until 31(st) March 2016. It is designed to be one of the most competitive tariffs on the market and is priced to attract customers to Flow Energy, as well as to retain existing customers.
Tony Stiff, CEO of Flowgroup, commented: "Changing consumer behaviour around energy, with higher switching rates and a move away from the Big 6, as well as governmental focus on encouraging switching, means the energy market presents an opportunity for our business in 2015. Our new tariff will, we believe, allow us to grow Flow Energy's customer base. This would bring significant benefits to the Group, as it did in 2013 and 2014. As well as generating additional revenue, our larger customer base would provide a perfect opportunity to cross-sell the Flow microCHP boiler, as well as other energy efficient products. We are therefore extremely pleased to be announcing this news today."
Flowgroup plc www.flowgroup.uk.com Tony Stiff, Group Chief Executive Tel: +44 (0)151 Officer 348 2100 Nigel Canham, Chief Financial Officer Walbrook PR Ltd Tel: +44 (0)20 7933 8780 or flowgroup@walbrookpr.com Paul McManus Mob: 07980 541 893
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAWGURWWUPAGAU
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